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Amendments to the law on the budget of the Pension Fund for the year 2018 and the planning period of 2019 and 2020

The President has signed the Federal law "On amendments to the Federal law "About the budget of the Pension Fund of the Russian Federation for the year 2018 and the planning period of 2019 and 2020".

Federal law passed by the State Duma on 21 June 2018 and approved by the Federation Council on 27 June 2018.

I

To the Federal law "About the budget of the Pension Fund of the Russian Federation for the year 2018 and the planning period of 2019 and 2020" introduces amendments aimed at clarifying the main characteristics of the budget of the Pension Fund of the Russian Federation for 2018 in connection with the adjustment of socio-economic development of the Russian Federation and taking into account the results of execution of the budget of the Fund for 2017.

In particular, in 2018, the law provides for the reduction of income of the Fund budget by 66.8 billion, an increase of expenses of the budget of the Fund for 92.2 billion and an increase in the budget deficit of Fund in the part not connected with formation of means for financing of funded pension, at 159 billion.

In accordance with the Federal law to cover the Fund's budget deficit in 2018 will be sent to Fund balances the Fund's budget formed as a result of their incomplete use as of January 1, 2018.