What if I don’t choose a pension fund?

As a policy holder, you have the right to choose within three months, to which mandatory pension fund you’ll become a member of.

If you fail to make your choice after the end of the three month period, then you automatically will be assigned to the mandatory pension fund in which you were previously a temporary member of by random selection. If you wish to transfer to another mandatory pension fund, you’ll have to sign a contract for transfer to another company that manages the mandatory pension fund and sign a Statement for approval for transfer.

If the membership in the current fund is less than or equal to 720 days, you will have to pay a transfer fee, and if the number of days is more than 720 days, then the transfer is free.