Reforms of insurance premiums in Russia

Aim . To study the stages of insurance premium reforms in Russia and determine their role in the implementation of socially significant functions of off-budget funds. Methodology . Based on the reporting data of the Federal Tax Service of Russia, an analysis of the reforms of insurance contributions, income and expenses of social extra-budgetary funds was conducted. To write this topic, the author used modern methods of scientific research such as analytical, statistical, methods of grouping, graphical and tabular presentation of data, which allowed achieving the goal. Results . The problem of insurance premiums, which cannot fully provide social extra-budgetary funds with their financial resources, is outlined. The ill-considered and unjustified decision of legislators to reduce the rates of the single social tax (UST) from 35,6 to 26,0% by 9,6% led to an imbalance in the Pension Fund budget. As a result, the Pension Fund deficit did not decrease, but on the contrary increased from 94 to 400 billion rubles. A significant share in social extrabudgetary funds is occupied by inter-budget transfers, which are allocated from the federal budget and budgets of the constituent entities of the Russian Federation. Research implications is the need to unite two off-budget funds in the creation of a single Social Fund to reduce the administrative costs of these funds. As a result, it was revealed that the main items of expenditure today are expenses on pensions and social security, expenses on the protection of family and childhood.