The State Duma in the first reading adopted a bill on the Russian Post’s monopoly on the delivery of insurance pensions

The State Duma adopted in the first reading bill on the delivery of insurance pensions in cash to citizens, according to which, from April 2023, Russian Post will become the only provider of pensions. If the bill is passed, the number of clients of the state-owned company will increase by 1.5 million people.

In 2021, 11.9 million retirees received a cash pension. At the same time, most of them (10.4 million people) were served by Russian Post, 1.5 million people were private organizations.

The explanatory note to the bill notes that private deliveries mainly work within the city, where the cost of delivering pensions is minimal. But Russian Post is forced to serve pensioners in rural areas and hard-to-reach areas. At the same time, the delivery rate is the same for both Russian Post and private organizations – 1.17% of the pension.

As Kommersant noted, the problem that the deputies are trying to solve is largely created by the Russian Post monopoly in the market for the delivery of social benefits. Private companies cannot compete with a state-owned company, and therefore they tend to provide services in situations with minimal financial risks.

Read more about the situation – in the material “Post of Russia was assigned a pension”.

Anastasia Larina