Discharged soldiers can withdraw thousands of NIS of military deposit funds
The withdrawal of the funds will be allowed for any purpose and will take effect in two weeks and last for three months.
By ANNA AHRONHEIMIn the wake of the coronavirus, COGAT officers and soldiers deliver essentials to the needy and disabled in Jerusalem for Passover(photo credit: COGAT SPOKESPERSON'S OFFICE)
Discharged soldiers and those who have finished their national service in the past five years will be able to withdraw thousands of shekels of their military deposit money according to their discharge date, the Defense Ministry announced Tuesday.The Released Soldiers Fund in the Defense Ministry announced that those discharged between July 20, 2015 and January 19, 2019 can withdraw – one time – NIS 3,500 and those discharged from January 20, 2019 and October 20, 2020 can withdraw – one time- NIS 5,300 or the balance of their deposit (whichever is lower, in both cases).The withdrawal of the funds will be allowed for any purpose and will take effect in two weeks, and last for three months.Known as “pikadon” in Hebrew, all troops are able to withdraw their release deposit after five years for six specific purposes: education, vocational training, driver’s license, opening up a business, marriage and buying an apartment. The amount depends on where, and how long the soldier served.According to the outline developed by the Defense and Finance ministries, and implemented by the Released Soldiers Fund, the amount of the deposit will be automatically wired to the veteran’s bank account that was in use at the time of their service. If the bank account has been changed or closed, they can receive the funds at the post office.The announcement comes a week after the Defense Ministry announced discharged lone soldiers would be able to withdraw up to NIS 8,000 to help them during the economic crisis caused by the novel coronavirus.To qualify for the grant, the soldier must be in the first year of their release and had a housing lease in effect during the crisis period, from the beginning of March until May 31, 2020. Lone soldiers who have not yet applied for housing assistance can register on the website of the foundation for discharged soldiers by July 10.With many soldiers, including lone soldiers – who have no family support in the country – discharged less than six months before the coronavirus pandemic, they do not qualify for unemployment benefits from the state because they have not accumulated enough time as citizens with employment.With 300,000 people, roughly 7.5%, unemployed in Israel (compared to just 3.9% before the crisis hit), many Israelis have found themselves in severe financial distress, especially newly discharged soldiers and lone soldiers who relied on external jobs to make ends meet.Minister in the Defense Ministry Michael Biton, who deals with civil affairs, said that the law was “intensively promoted” over the past month “in order to respond to veterans who have been discharged during this crisis.”
“The government’s first task at this time is to provide financial assistance to civilians, with emphasis on populations like discharged soldiers,” he said, adding “we will do everything we can to get through this crisis together.”
