The Pension Fund of the Russian Federation ended 2022 with a record surplus of 1.1 trillion rubles

The Pension Fund of Russia in 2022 ended with a huge surplus of 1.1 trillion rubles, writes RBC, referring to the Accounting Chamber. The budget transfer to the FIU increased by 70% from the planned level, which led to an increase in the fund's income to 12.48 trillion rubles, which is 24.4% more than originally planned.

Expenses amounted to 11.37 trillion rubles, which is 12% more than planned. As a result of the surplus, the funds of the FIU increased from 569.5 billion rubles in 2021 to 1.66 trillion rubles at the end of last year.

The increase in the transfer is due to an increase in the costs of pensions and other social pensions, as well as the new powers of the fund. This year, the FIU pays 16 benefits and social support measures to certain categories of citizens. President Vladimir Putin signed a law on merging the Pension Fund and the Social Insurance Fund into a single Pension and Social Insurance Fund from 2023.

In December, the government allocated 1.5 trillion rubles to the Pension Fund to pay pensions, including in 2023. Pensions have been indexed by 4.8% since January 1 of this year. At the end of last year, President Vladimir Putin signed a law according to which, from 2023 next year, the average size of pensions of non-working pensioners will be increased to 21,054 rubles. At the end of 2022, the average pension amount is 18,521 rubles.