Your Driver's License is Yours!

Minister of Transportation Miri Regev announced today that she is changing policy and from now on, actually from October 1, 2021, all new driver's licenses to be given out will no longer need to be renewed every 10 years but will be valid until the age of 70. From 70to 80 the license will need to be renewed every 5 years and from 80 every two years.source: Kipa
The cost of the license until 70 will be 510nis, which will save drivers a lot of money, as much as 1500nis when compared to the cost today of renewing your license every ten years. 
Obviously the older you are when this goes into effect the less you will save, and if you have to renew your license at age 63 or 67 and have to pay 510nis for a license good for just a few years that seems unreasonable, but for most people it will be big savings. 
Maybe they will, or should, prorate it depending on your age at the time of the last renewal when this goes into effect.
It never made sense to me to have to renew your license every ten years. Seems like a money-making scheme. If you get too many tickets or violations, they can revoke the license anyway, send you to refresher courses, charge fines, etc. Once you get the license, it should be yours to lose. If somewhere along the way any major rules of the road undergo massive changes, they can require everyone relevant to take a refresher course, if necessary.
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