Social_Insurance_Fund_of_the_Russian_Federation
Social Insurance Fund of the Russian Federation
Russian federation budget fund
The Social Insurance Fund of the Russian Federation (Russian: Фонд социального страхования Российской Федерации) is one of the state budget funds, created to provide for the compulsory social security of Russian citizens. It was created on January 1, 1991, by a joint decree of the Council of Ministers of the Russian Federation and the Federation of Independent Trade Unions of Russia No. 600/9-3 from December 25, 1990.
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The activities of the fund is governed by the Budget Code of the Russian Federation and the Federal Law "On the basis of compulsory social security", as well as other laws and regulations.
The State Duma decided (July 5, 2022[2]) to fuse this fund with the Pension Fund of the Russian Federation and to establish a new united social fund titled Pension and Social Insurance Fund of the Russian Federation since January 1, 2023.