2022 was a triumph for the Pension Fund of Russia (and from January 2023, the Social Insurance Fund of Russia), as the organization’s budget showed a record surplus of more than 1.11 trillion rubles by the end of the year. This is tens of times more than the deficit of 122.4 billion rubles that was projected in the approved budget plan at the end of 2021. The data was published thanks to an analytical note from the Accounts Chamber on the execution of the budget of the Pension Fund of Russia for 2022, as reported by RBK.
In 2022, the total revenues of the Pension Fund of Russia amounted to 12.48 trillion rubles, which is 24.4% more than planned at the beginning of the year. The expenses of the Pension Fund of Russia in 2022 amounted to 11.37 trillion rubles. It is still unknown how the Fund managed to achieve such outstanding results and why the budget became so “profitable”. To clarify this, an audit of the annual report on the execution of the budget of the Pension Fund of Russia for 2022 will be required by the Accounts Chamber. The official result of the audit will be announced by the end of June.
The record budget surplus of the Pension Fund of Russia is a great victory for the organization, as the Fund plays an important role in providing social and pension protection to the citizens of Russia. These funds can be directed towards improving social programs that support the population, as well as modernizing the pension system. On the other hand, the record surplus may also be due to changes in the demographic situation in Russia, which led to a decrease in pension and social benefit payments. However, the exact reasons for the surplus will only be known after the audit by the Accounts Chamber.