Old Pension Funds assets up 17%

The total assets of the funds grew 17.2 percent to NIS 127 billion, while combined obligations rose 14% to NIS 202.3b. for the year.

By AVI KRAWITZ
August 14, 2006 08:30

Old Pension Funds, a group of eight funds under the same management, said Sunday its deficit of assets over obligations diminished in 2005 as government assistance and investments made by the funds during the year bore fruit. The total assets of the funds grew 17.2 percent to NIS 127 billion, while combined obligations rose 14% to NIS 202.3b. for the year. The funds also attributed the growth in asset value to its method of valuating non-tradeable assets and its use of assets. In accordance with the law governing the pension funds, the Old Pension Funds have received NIS 6.5b. of the NIS 89.5b. of Government assistance due it.


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