Guide: How to check where your child's savings are managed
Before making financial decisions, changing tracks, or increasing deposits, the first and most important step is understanding your child's current situation. Many parents do not know whether their children's money is saved at a bank or in a provident fund, which specific financial institution manages the savings, or which risk track it is currently invested in.
- Reading time
- 3 minutes
This is a simple, quick digital process that will give you a complete overview of the information.
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 will not make any actual charge).
To check the savings details, visit the National Insurance Savings Plan for Every Child website.
Step-by-step guide
Step 1: Accessing the information service
On the National Insurance website's homepage, click the purple button on the right labeled "To receive personal information about the child's savings plan".
Step 2: Selecting user status
On the first screen of the information system, under the heading "Identifier/applicant details," select the first option: "I am a parent who receives child allowance, and my child has savings". You will then be asked to enter the parent's ID number.
Step 3: Entering the ID number
In the box that appears on the screen, enter the mother's ID number (or that of the parent receiving 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 purposes only. Enter the card number, expiration date (month and year), and the three digits on the back of the card, then click the "Next" button.
Step 5: Viewing savings data and analyzing the information
Complete information about the children's savings will now be displayed on your screen in a consolidated table. When reviewing the data, pay particular attention to three critical details:
- Name of the managing institution (fund/bank name): Indicates the commercial bank or investment house where the money is held.
- Investment track: Specifies the risk level or type of track in which the money is invested (low-, medium-, or high-risk tracks, or dedicated tracks such as Halakha or Sharia).
- 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: Saving the data
To keep the information for your records, it is recommended that you write it down. Alternatively, click the print or save icon in the upper-left corner to print the report or save it as a file on your computer. Finally, click the "Finish" button.
Food for thought: Before rushing to make changes, transfer funds, or sign new forms, the most important rule is to first check and understand the current situation. Knowing your current starting point is the only foundation that will enable you to plan smarter, more informed, and more appropriate steps for your children's financial future.