AnsweredWhat field of applied mathematics excites you the most, and why?
Today in Israel, every employer is forced by law to pay 17.5% of an employee's salary towards a sort of "Country Pension Plan". Out of this, 5.5% is taken from the employee's monthly salary. The average salary in Israel is 9,260 NIS per month, which is about $2400. Assuming the employee retires between the ages of 64-67, the monthly pension received would be about 1,500 NIS (~$400).The average monthly rent for a normal family home in Israel is already 4,000 NIS (~$1030). As it appears above, the system is broken. This mechanism is supposed to help senior people live well after retiring, when in reality it's a direct route to poverty. From your vast experience and knowledge, how might you advise the Israeli government to revamp this mechanism, and achieve its original purpose?