On Sunday, Histadrut chief Arnon Bar-David wrote to the Treasury's appointee on budgets, Shaul Meridor, and to the Finance, Insurance and Savings Commissioner, Dr. Moshe Barkat, requesting that the state provide a safety net for the pension funds of Israeli citizens.
Due to global market instability following the coronavirus epidemic, pension savings could be negatively impacted as financial markets worldwide experience dramatic declines.
"The extreme declines in capital markets that we are currently seeing are leading to a reduction in the value of local pension savings," wrote Bar-David.