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The Russian government intends to merge the Pension Fund (PFR) and the Social Insurance Fund (FSS) into the Social Fund by 2023, Kommersant writes, citing materials from the Ministry of Labor.
According to the publication, employers will be offered a common tax base for the payment of insurance premiums for pension and social insurance. It is assumed that such a decision will increase the amount of several social payments for the population by one and a half times with a minimal increase in the burden on business.
In addition, it is expected that it will become more convenient to receive social services within a single digital platform. At the same time, the new structure will receive the status of an “off-budget fund”, while the PFR and the FSS are state institutions. The Ministry of Labor will continue to coordinate the work of the new fund, but a supervisory board will also be created.
According to the publication’s sources, the relevant bill may be considered by the State Duma already during the spring session.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
