Prof. Avia Spivak and Shahar Zemach say that the most significant and consistent factor in the continuing reduction in pension benefits is the increase in life expectancy. And also: How much does withdrawal of severance pay reduce the monthly pension benefit? Last article in the series.
For the article (in Hebrew): http://www.anet.co.il/Dev2Go.web?id=412915&sNewsID=35855
See also in the attached file.