The Pensions, Insurance and Financial Literacy Research Center (P.I.F)

	Study: Israeli household income plummets after retirement When compared to developed European countries conducting similar surveys, based on data provided by SHARE, Israeli retirees suffer a greater decline in income than their European neighbors. Prof. Avia Spivak ( August 19, 2019 )
	State pins responsibility for pensions on uninformed pension savers Following the State Comptroller’s report on the Israeli pension market, a column by Prof. Avia Spivak suggests an alternative allocation of designated bond that will reduce inequality (November 2016)
	Outcomes of the worlds greatest economic experiment are still unknown A column by Sarit Menahem and Avia Spivak on the long-term effects of an expansionary monetary policy (April 2016)
	Can financial education actually make a difference? Due to an international Financial Literacy conference at the Ben-Gurion University of the Negev, an article written by Eyal Carmel and David Leiser addresses the pros and cons of financial education (April 2016)
	An interview with professor Elsa Fornero Professor Fornero, a keynote speaker at the Financial Literacy conference at the Ben-Gurion University of the Negev, discusses the importance of public engagement in economic reforms. Fornero served as the Minister of Labor and Welfare in Italy and is specialized in welfare and pension (February 2016)
	Why are people unexpectedly losing 30% of their pensions? Professor David Leiser has come to an alarming conclusion: “People are unaware of their misconceptions, and construct economic understanding based on mistakes.” An interview with Economic Psychologist David Leiser on ‘naive perceptions, psychological mistakes, and their economic cost’ (December 2015)
	Research: Mandatory pension reduces poverty and inequality A study by the Van Leer Institute determined that the Israeli 2008 mandatory pension act has narrowed the inequality among the working population. Yet, it is less effective in reducing poverty among the unemployed population (December 2014)
	Governor of the Bank of Israel calls to raise retirement age for women at the P.I.F’s launch conference Karnit Flug: “Early retirement for women causes a shortage in their pension savings”. Coverage of Flug’s words at the P.I.F’s launch conference (November 2014)
	The Governor of the Central Bank of Israel warns from an expected low ratio of one retired worker to retiree A coverage from the opening conference of the Pension, Insurance and Financial Literacy Research Center. Among speakers were the Governor of the Central Bank of Israel, the Director of the Ministry of Finance’s Capital Markets Insurance and Savings Department, and the Head of the Israeli National Economic Council. (November 2014)
	“Inequality in Pension Subsidy between the rich and the poor” An interview with Prof. Avia Spivak, one of the most prominent retirement researchers in Israel, who proposes a mechanism to reduce pension inequality in Israel, and foresees a grim future for the sector of retirees: “The poverty rates among the elderly are expected to rise in the next two decades as the Orthodox and Arab populations grow older.” (November 2014)
	Pension Savers choose in accordance with an insurance agent advice, regardless of possible conflict of interests Researchers at Ben-Gurion University found that while choosing a pension plan, customers ‎mostly ‎follow an insurance agent’s recommendation, even against their best ‎interest, and despite the presence of a fair disclosure statement.(March 2014)
	“Most Israeli’s are reluctant to address their pension savings” Prof. David Leiser, President of the International Association of Economic Psychology, calls for a different attitude from the Ministry of Finance’s, which will hopefully help consumers to stop postponing one the most important economic decisions of their lives. (January 2012)

Media and Communications

State pins responsibility for pensions on uninformed pension savers

Outcomes of the worlds greatest economic experiment are still unknown