The old age insurance is designed to ensure that residents of Israel receive a regular monthly income in their old age.

The old-age pension is paid either from

AnyIsraeli residentA person whose life is centered in Israel. Criteria for determining this include: Israel is your permanent place of residence, where your family resides, where your children go to school, your primary place of work, or where you are studying. born in Israel or who first immigrated before the age retirement prescribed by the law (62 for men orretirement age for women), and is eligible for an old-age pension provided he or she meets theconditions of entitlement.

A person who first immigrated to Israel after that age may be entitled to aspecial old age benefit. 

An Israeli resident who moved to aconvention country - may be eligible for an old age pension even if he or she ceases being an Israeli resident.

An Israeli resident who began receiving an old-age pension in Israel andmoved abroad in a country that has not signed a bilateral convention with Israel - may be continue receiving the pension, even if he or she ceases being an Israeli resident.