Minimum Wage and National Insurance Allowances Increase in 2024
As of April 2024, the minimum wage in Israel is expected to increase by more than 300, in line with the increase in the average wage in the economy. The new minimum wage will be NIS 5,880 gross per month, which is a 5.6% increase from the current minimum wage of NIS 5,572 per month.
In addition to the minimum wage increase, the National Insurance benefits will also increase in 2024 in accordance with the Consumer Price Index and the average salary according to the National Insurance Law.
The general disability allowance, for those in a state of complete inability to earn, will amount to NIS 4,291, up from NIS 4,063 in the previous year. Additionally, the special services allowance for those with more severe disabilities will also increase based on the percentage of disability and difficulty.
The “disabled child” benefit will see an increase as well, with the allowance for a child with 100% disability rising from NIS 3,295 to NIS 3,479, and the supplement for a ventilated child with a disability increasing from NIS 9,293 to NIS 9,813.
However, other National Insurance allowances such as senior citizen, survivors, income support, maternity, and child allowances will increase at a lower rate starting from January 2024. For example, the senior citizen’s allowance for an individual will only increase from 1,680 NIS to 1,736 NIS, and for those aged 80 and over, there will be an additional 98 NIS.
These increases in minimum wage and National Insurance benefits aim to align with the rising average wage in the economy and ensure that individuals and families are able to meet their financial needs.