Guide: how do you check where your child’s savings are managed?
Before making financial decisions, changing tracks, or increasing deposits, the first and most important step is to understand the child’s current situation. Many parents do not know whether the money is saved at a bank or provident fund, who manages it, or its current risk track.
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Before making financial decisions, changing tracks, or increasing deposits, the first and most important step is to understand the child’s current situation. Many parents do not know at all whether the children’s money is saved at a bank or in a provident fund, which specific financial institution manages the savings, and which risk track it is currently invested in.
This is a simple and quick digital action that will put all the information in order for you.
What should you prepare in advance?
- The mother’s ID number (or that of the registered parent who receives the child allowance).
- The mother’s credit-card details for identity verification only (the system does not make any actual charge).
To check the savings information, go to the Bituach Leumi (ביטוח לאומי; National Insurance Institute) Savings for Every Child program website.
Step-by-step instructions
Step 1: enter the information service
On the main screen of the Bituach Leumi website, click the purple button on the right that says “To Receive Personal Information About the Child’s Savings Plan.”
Step 2: choose the user’s status
On the first screen of the information system, under the heading for the identifier/applicant’s details, select the first option: “I am a parent who receives a child allowance, and savings exist for my child.” After selecting it, you will be asked to enter the parent’s ID number.
Step 3: enter the ID number
In the box that opens on the screen, type the mother’s ID number (or that of the parent who receives the allowance). Then click the “Next” button.
Step 4: secure identity verification
The system will ask you to enter the mother’s credit-card details for identification only. Enter the card number, expiry date (month and year), and the three digits on the back of the card, and click “Next.”
Step 5: view the savings information and analyze it
The full information about the children’s savings will now be displayed on the screen in a consolidated table. When reading the data, pay particular attention to three critical details:
- Name of the managing institution (fund/bank name): Shows the commercial bank or investment house where the money is actually held.
- Investment track: Specifies the risk level or type of track in which the money is invested (a low-, medium-, or high-risk track, or designated tracks such as halakha (הלכה) or Sharia (שריעה)).
- Additional deposit from the allowance: Shows whether an additional deposit of 57 shekels is currently being made from your child-allowance account (status “Yes” or “No”).
Step 6: save the information
To keep the information, it is recommended to write it down. Alternatively, you can click the printer icon or save icon shown at the upper left to print the report or save it as a file on your computer. Finally, click the “Finish” button.
A point to consider: Before rushing to make changes, transfer money, or sign new forms, the most important rule is first to check and understand the existing situation on the ground. Knowing your current starting point is the only basis that will allow you to plan smarter, more informed, and more appropriate steps for your children’s financial future.