PFR Public Council holds second meeting

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23 april 2018

The Public Council of the Russian Pension Fund held its second meeting in Moscow on April 23 to address the fulfillment of the PFR’s 2017 budget, adjustments to the PFR Regulations, and norms of costs of the fulfillment of PFR duties. PFR Board members led by Board Chairman Anton Drozdov made reports on every item on the agenda and had a discussion with the Public Council members.

It was noted at the meeting that the PFR’s 2017 budget was fulfilled on schedule, consistent with the planned indexation of the pensions, supplements, and social benefits. All payments were increased in due time. The report on the fulfillment of the PFR’s 2017 budget has been submitted to the Russian Labor and Social Protection Ministry and the Federal Treasury.

In furtherance of the budget theme, the meeting participants discussed norms of costs of the fulfillment of PFR duties. The PFR Board urged the participants to carefully study the proposed norms and offer their comments. It was noted that the procedure of public control had been accomplished within the framework of the procurement information system.

The Board said that the ongoing structural reform of PFR territorial divisions and personnel reductions had optimized the costs of PFR activity. Digital technologies, such as digital archives, will save the PFR’s money in infrastructural projects compared to expensive paper archives.

The third item on the agenda of the Public Council’s meeting was the status of the Pension Fund. The speakers noted that, on the one hand, the Fund was operating as a government agency while, on the other hand, it was a mandatory pension insurance company. As a result, the PFR is carrying out public activity regulated by state, administrative, financial, and budgetary law, and civil and social security laws add a civil law element to its operations. The situation requires an adjustment of PFR regulations.