Pension fund ends 2022 with record surplus
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In 2022, the Russian Pension Fund received a record surplus of 1.1 trillion rubles. According to the Accounts Chamber, this is due to a sharp increase in transfers from the federal budget – 70% above the planned level.
The PFR budget for the reporting period was replenished by 12.478 trillion rubles, which is 27.4% more than in 2021. However, PFR expenses also increased and amounted to 11.374 trillion rubles, an increase of 12.3%. This is due to the granting of new powers to the PFR to pay 16 benefits and social support measures to certain categories of citizens, indexing the size of state and insurance pensions, as well as other social payments.
In 2022, the Ministry of Labor proposed to merge the Russian Pension Fund and the Social Insurance Fund into a single Social Fund of Russia. This made it possible to increase the availability of all services, raise the standard of service, accelerate the digital transformation of the social sphere and reduce the cost of maintaining extra-budgetary funds. The United Fund began its work on January 1.
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