Common use of Pension Insurance Clause in Contracts

Pension Insurance. In accordance with the extension orders of the collective agreements between the coordinating office of the economic organizations and the new Histadrut of workers in regard to pension insurance, as these may be in force from time to time (at present as published in Y.P. 6302, 5771, at page 6938 and in Y.P. 7287, 5776, at page 7974) (hereinafter: “the Extension Order”). For the removal of doubt, the Club’s payments to the pension insurance and/or for supplementing of severance pay, as the case may be, in accordance with the abovementioned Extension Order, shall be in lieu of severance pay as regulated in the abovementioned Extension Orders. With respect to the pension insurance the following additional provisions shall apply: