Knesset committee okays gradually raising women’s retirement age from 62 to 65

The Knesset’s Finance Committee has approved raising the retirement age for women from the current 62 to 65, as part of a bill set to be passed next month alongside the state budget.

The plan has undergone many changes after some activists argued it would harm women from marginalized groups, and it still faces some objections, but isn’t expected to be changed again.

The plan would raise the retirement age gradually over the next 11 years: It will be raised by four months each year until 2024, and then by three months each year until 2032.

It also stipulates that starting in 2038, the retirement age for women will be automatically raised every three years by two-thirds of the rise in life expectancy for 65-year-old women over that time. When the women’s retirement age reaches that of men — 67 — this mechanism will start applying to both men and women.