The Russian cabinet led by Prime Minister Mikhail Mishustin approved a regulation that defines who sits on the board of the Social Fund. This step was announced on the cabinet’s official site. The plan states that the Board of the Pension and Social Insurance Fund, commonly called the Social Fund, will bring together representatives from the Ministry of Labor, the Ministry of Finance, the Central Bank, as well as senators, deputies, and delegates from Russian public associations and organizations. The announcement also noted that the Social Fund board will function as the fund’s governing college, charged with guiding priorities for the development of the country’s insurance systems, allocating budget resources, and setting planned reserves.
On December 24, Sergey Chirkov, the chairman of the Social Fund, affirmed that the new department would adhere to the schedules for pension transfers and all related payments. He explained that the merger between the Russian Pension Fund and the Social Insurance Fund would ensure a seamless continuation of all payments, services, and obligations that currently fall under the two funds. The merger is framed as a straightforward continuation of the existing pension and social insurance commitments, now under a single administrative structure.
Previously, President Vladimir Putin signed legislation creating a unified pension and social insurance fund by merging the Pension Fund of Russia and the Social Insurance Fund of the Russian Federation. The aim is to streamline administration, minimize service disruptions for beneficiaries, and strengthen the financial coordination of pension and social protection programs across Russia.