# How to Read a Pension Statement, Field by Field

> A guide to your pension fund's quarterly and annual statement: deposits, fees on deposits and on balance, insurance cover, investment track and beneficiaries, and what to check in each.

- Canonical URL: https://www.shavve.io/en/articles/how-to-read-pension-statement
- Category: Pension
- Published: 2026-09-04 · Updated: 2026-10-13
- Reading time: 8 min
- Language: English
- Shavve - שווה — https://www.shavve.io/en

## The short version

- The statement is a control tool: it shows what was deposited, what it cost, and what cover you have.
- Check that the deposits match your payslips, month by month.
- Management fees come in two rates: on deposits and on the balance.
- Insurance cover costs money: make sure it fits your family situation.
- Beneficiaries and investment track are two fields many people don't open for years.

Your pension fund's statement arrives by mail or email, and most of us glance at the bottom-line balance and close it. Yet it is one of the most important documents in your financial life. It shows what actually happened to the money set aside in your name. This guide goes through the statement field by field and explains what to check in each. Layout and detail vary between providers, but the basic fields are similar.

## Field by field

*Fields and names may differ slightly between providers.*

| Field | What it shows | What to check |
| --- | --- | --- |
| Personal details and employer | Who you are, and which employer deposits | That your current employer appears and no details are wrong |
| Balance / accumulation | What has accumulated in the fund, often split into components | Where the money sits: employee contributions, employer contributions and severance |
| Deposits in the period | What was deposited and for which salary month | A match with your payslip, and gaps between months |
| Management fees | The rate on deposits and on balance | Both rates, and whether they were updated |
| Insurance cover | Death, disability or loss of earning capacity, and survivors | The scope, its cost, and overlap with other insurance |
| Investment track | The track your money is invested in, and its return | That the track fits your age and horizon, and the net return |
| Pension projection | An estimate of your pension at retirement | The assumptions behind it (return, salary, age) |
| Beneficiaries | Who inherits in case of death, where it must be set | That the details are current and fit your family situation |

> **Key point — Fees on the statement**
> You'll usually see two rates: a fee on deposits and a fee on balance. Both are charged and both matter. Both have legal caps that change from time to time, so check current caps on the Capital Market Authority site. A longer explanation is in our article on management fees.

## Insurance, track and beneficiaries: the three forgotten fields

- **Insurance cover:** a pension fund usually includes cover for death (survivors' pension) and loss of earning capacity. The cost comes out of the deposit. If you also have private insurance, check for overlap.
- **Investment track:** are you in a default track or one you chose? A track that suits age 30 doesn't necessarily suit age 58. Also check what happens as you approach retirement.
- **Beneficiaries:** in some products you decide who receives the money on death. After a wedding, divorce or birth, make sure the details are current.

> **Watch out — Don't assume it's all up to date**
> Beneficiaries, marital status and insurance cover are set when you join, and usually don't update themselves. Years later they may no longer reflect your life. Review them at least every few years.

## The journey of a deposit: from payslip to statement

- **End of month** — Salary is paid: Your payslip shows the employee deduction and the employer contribution.
- **The following month** — The employer transfers to the fund: The law sets a deadline for the transfer, usually mid-way through the following month. Check the exact date with the authority.
- **A few days later** — The fund allocates the deposit: The money is recorded in your account and begins to take part in the return.
- **In the next statement** — The deposit appears: The quarterly statement lists deposits by the month they were paid for.
- **You** — Compare with your payslip: A month missing from the statement is a reason to ask your employer or the fund.

**What to do when the statement arrives**

- [ ] The deposits match my payslips, including salary months.
- [ ] There is no month without a deposit that I can't explain.
- [ ] I've noted the fees on deposits and on balance.
- [ ] My insurance cover fits my family situation, with no duplication.
- [ ] I know which investment track I'm in, and why.
- [ ] My beneficiary details are current.
- [ ] All my products are in one place, including old funds from previous employers.

**How often do I get a statement?**
Providers send quarterly and annual statements, and you can also see up-to-date information on the provider's site or app. Ask the provider for the exact details.

**What if a deposit is missing?**
Ask your employer first, and if there's no answer, contact the fund. Because of the lag between payslip and statement, sometimes a deposit simply hasn't been recorded yet. Note what you checked and when.

**How can I find old forgotten funds?**
There is a government service for locating forgotten money and savings, where you can see what is registered in your name. Search gov.il for the Capital Market Authority's service.

**Should I change my investment track?**
It's a personal decision that depends on age, horizon and risk tolerance, so there's no single answer. You can consult a licensed adviser or agent. This article is general information, not advice.

**Is the insurance cover unnecessary?**
Not necessarily. It can matter a lot, especially for a family with children. The question is whether the scope fits and isn't duplicated, and to know that you need to check against your other policies.

**All your pensions, without chasing statements** Shavve connects your pension funds, provident and study funds, read-only, and shows each product's deposits and fees in one place. Join the waiting list.

## Sources

- [Capital Market, Insurance and Savings Authority](https://www.gov.il/he/departments/capital_market_insurance_and_savings_authority)