The Social Fund will allocate more than 9.5 trillion rubles in 2023.

The Social Fund of Russia will allocate more than 9.5 trillion rubles for the payment of pensions. in 2023, the press service of the Ministry of Labor reported. Another 1.9 trillion rubles. will go to support families with children. The Pension and Social Insurance Fund of the Russian Federation will start operating from the beginning of 2023, it was created by merging the Pension Fund and the Social Insurance Fund.

The draft budget of the Social Fund has been published for public discussion. Revenues in 2023 will amount to 13.7 trillion rubles: 7.3 trillion rubles. will come from pension contributions, 856 billion rubles. – from contributions to compulsory social insurance in case of temporary disability and in connection with motherhood and 182 billion rubles. from premiums for insurance against accidents at work and occupational diseases. About 5 billion rubles. will come from the federal budget, 1.9 trillion of which will go to support measures for families with children. Expenses will amount to more than 13.5 trillion rubles.

The head of the Ministry of Labor Anton Kotyakov noted that the principle of cross-funding was not used in the design. “That is, income and expenses for each type of insurance are accounted for separately. Funds from one type of insurance are not used to finance the costs of another type of insurance,” the minister explained (quoted from “RIA News”).

President Vladimir Putin signed the law on merging the Pension Fund and the Social Insurance Fund into the Pension and Social Insurance Fund in mid-July. According to the authors of the initiative, after this step, the authorities will be able to centrally manage social payments and provide them more quickly.

More about the merger – in the material “Kommersant” “Pension Fund for Retirement”.

Leonid Uvarchev