Social Insurance Fund of the Russian Federation explained

Social Insurance Fund of the Russian Federation
Native Name:Фонд социального страхования Российской Федерации (ФСС)
Type:Federal service
Headquarters:Orlikov pereulok, dom 3A, Moscow, Russia
Chief1 Name:Andrey Kigim (until Feb 2021)[1]
Chief2 Name:Alexey Polikashin (since Feb 2021, acting)

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.

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.

Budget

The income of the fund comes from compulsory social insurance, formed by contributions, from insurance contributions from industrial accidents and occupational diseases and from subsidies from the federal budget and the Federal Mandatory Medical Insurance Fund of the Russian Federation.

Functions

Chairmen

External links

Notes and References

  1. Web site: КИГИМ Андрей Степанович. Social Insurance Fund of the Russian Federation. 16 October 2020. ru.
  2. See bill № 127389-8 on the website of the State Duma (in Russian).