Amitim is managed by Efi Sandrov, who was appointed Special Administrator of all eight funds under the arrangement in August 2021. Amitim serves more than 255,000 pensioners, approximately 10,000 employers, 350,000 inactive insured members, and approximately 45,000 active insured members.

Today, Amitim is one of the largest institutional investment entities in Israel, managing assets totaling approximately ILS 400 billion in Israel and abroad. The funds’ asset portfolio consists of 30% designated bonds and 70% other investments, including government bonds, corporate bonds, and equities.

Appointment of the Special Administrator and establishment of the unified operational framework followed legislation enacted in 2003, which implemented a recovery plan for the funds and established uniform bylaws. Under the law, the State undertook to provide assistance totaling approximately ILS 78 billion (in 2003 values), alongside complementary measures, including:

• Adoption of uniform and equitable bylaws for all fund members, and elimination of the disparities that had existed in the rights of different groups of members within the same pension fund.
• Increase in contribution rates and collection of management fees.
• Increase in the retirement age.
• Establishment of an actuarial balancing mechanism – similar to the mechanism used in new pension funds and balanced veteran pension funds – designed to ensure future stability and the ability to meet obligations to members.
• Discontinuation of the issuance of designated bonds to the funds and relaxation of investment restrictions across various investment channels, including investments abroad.

The funds are non-profit entities with no equity capital, and all of their resources (after management expenses supervised by the Authority) are designated for payments to members.

The funds were closed to new members in March 1995.