Most Israelis choose not to check their pension status — and it could harm the financial future

The majority of Israelis avoid learning about the state of their retirement savings, according to a recent article by Prof. Guy Hochman of Reichman University’s Baruch Ivcher School of Psychology. Published in the scientific journal Current Opinion in Psychology, the article explains that this avoidance is not driven solely by a lack of knowledge; emotional, cultural, and social factors also play a role. Many people prefer not to know how much money awaits them in old age — not because they are indifferent, but because the information can feel frightening, anxiety-inducing, or futile if they believe they cannot change the outcome anyway.

The article examines how different groups within the Israeli population engage with pension information and identified clear differences between secular Jews, the ultra-Orthodox, and Arab citizens. Among secular Israelis, it is financial anxiety that often leads to avoidance and suppression of the matter. Among ultra-Orthodox and Arab citizens, the primary reason for avoidance is a lack of trust in institutions, which leads to inaction or complete reliance on other support systems, such as family or community networks.

The findings show that technical or financial literacy campaigns about pensions have almost no impact on behavior. In contrast, emotional and identity-based messages, for example those based on a sense of community belonging or religious values, are more effective in generating interest and motivating action. The study also highlights digital access gaps, which make it difficult for disadvantaged populations to use tools such as Har Habituach (“Insurance Mountain”) or Har Hakesef (“Money Mountain”), precisely when they need this information most.

The article emphasizes that there is no one-size-fits-all solution for all citizens. Given the diversity of Israeli society, the way in which pension information is presented must be tailored to the language, culture, and needs of each group. This includes targeted outreach in different languages, ​​including Hebrew, Arabic and Russian; the use of emotional and social messaging; and the involvement of opinion leaders from within the respective communities themselves. At the same time, significant improvements are required to make technological tools more accessible — through simpler platforms, personal guidance, and proactive support for those who struggle to navigate the system. Finally, strengthening trust in the pension system will depend on greater transparency, oversight, and public accountability.

Prof. Guy Hochman of the Baruch Ivcher School of Psychology at Reichman University: “Ultimately, the avoidance of pension information is not just a personal matter — it’s a phenomenon that poses a real risk to social and economic stability. When people reach retirement age without a basic understanding of their financial situation, the result can be increased poverty, widening inequality, and a loss of public trust in the system. Recognizing that the avoidance of information is a natural human tendency, yet one with serious consequences, must be a central element of any discussion on Israeli welfare policy in the years to come.”