Merging of Pension and Social Insurance Fund

From 1 January 2023, the Pension Fund and the Social Insurance Fund will be merged into the Unified Social Fund of Russia.

The Ministry of Labour suggested the creation of a unified fund already in 2018, as the existence of two bodies with similar functions made it difficult to receive welfare benefits - for example, upon childbirth, the Pension Fund awards maternity capital and the Social Insurance Fund child benefits, and to receive both it was necessary to apply to both funds.

Now the process of receiving social benefits becomes easier and faster. Next year, pensions, federal benefits, capital, hospital and other payments, can be received in "one place".

In spite of the merge, all pension and benefit payment dates will be upheld.

Thank you!

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