The board of the Pension and Social Insurance Fund (Social Fund) will include representatives of the Ministry of Labor, the Ministry of Finance, the Central Bank, senators and deputies, as well as representatives of all-Russian public associations and organizations, the government website reports on Sunday.
The corresponding provision was approved by the Prime Minister of the Russian Federation Mikhail Mishustin.

«The Board of the Fund will become a collegiate governing body of the Social Fund and, among other things, will consider issues on priority areas for the development of pension and social insurance systems, on the Fund’s budget for the next financial year and for planning periods, on the formation of financial reserves. Also, the Fund’s Board will participate in the development proposals to improve legislation in the social sphere and to approve the list of directions for the fund’s research work,» the statement said.

«The Unified Pension and Social Insurance Fund will start operating on January 1, 2023. It was created as a result of the merger of the Pension Fund of Russia (PFR) and the Social Insurance Fund (FSS). The purpose of such a reform is to improve the quality of service for citizens, faster and more convenient registration and provision support measures, reducing the administrative burden on business. The Social Fund will maintain the continuity of all payments, services and obligations that were within the competence of the PFR and the FSS,» the message explains.

Earlier, the government approved Sergei Chirkov for the post of chairman of the Social Fund. He will also become the chairman of the board of this fund. The composition of the board of the Social Fund will also be approved by the government.