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electricity workers choose to quit now while the pensions are even better
Ha'aretz, Israel - May
Ten senior and veteran employees of
the Israel Electric Corporation have decided in recent weeks to terminate
their employment after learning that the Finance Ministry is planning to
worsen the terms of their pensions.
According to these workers, the treasury is planning to
cancel a clause in the pension plan granting senior workers with more than
five years' seniority a special benefit: the inclusion of overtime and
various premiums in the basic salary from which their pension is
They say that the most senior workers - the heads of
divisions and deputy directors-general - enjoy these special privileges,
and they therefore decided to retire before the new arrangements are
The senior workers who have decided to retire have
already reached the age of 60 and are expected to get a net monthly
pension of NIS 15,000 to NIS 20,000.
One of those planning to retire said yesterday that if
the two elements are not included in the basic salary for calculating
their pensions, they would lose some NIS 9,000 per month, on the basis of
120 hours of overtime and 60 hours' for premiums per month.
Among those planning to exit are four deputy managers in
the planning division and the director of the projects authority. One of
them is currently working on a private contract.
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