Day of formation of the Russian Pension Fund

December 22 is the Day of formation of the Pension Fund of Russia (PFR) and the professional holiday of its employees On December 22, 1990, Resolution of the Supreme Council of the RSFSR No 442-1 “On the organization of the Pension Fund of the RSFSR” was signed, according to which the Pension Fund was created Its main role is to provide and guarantee decent pension and social benefits Since the signing of the first regulatory act, the functions of the Pension Fund have been seriously reformed Initially, the main purpose of the Pension Fund was to collect insurance payments for pension payments Over time, the list of socially significant functions assigned to it was expanded In 2008, the Pension Fund introduced a program of state financing of voluntary pension savings Since 2010, the Pension Fund has become responsible for insurance funds for compulsory pension and health insurance, as well as for assigning a social supplement to pensions, so that the total income of the pensioner is close to the subsistence level The first legal regulations regarding pension compensation were signed during the reign of Peter I Back in the 18th century, at the level of law, the first All-Russian Emperor began to assign monetary support from the state treasury to retired soldiers and their families It was believed that pension provision stimulated a conscientious attitude of soldiers towards military service The first mentions appear in the Naval Charter of 1720, according to which employees of naval ranks began to be given a lump sum annual salary and a passport or (in case of injuries) placed in a hospital for life, while partial payments were intended for widows and children At the end of the 18th century, serving officers who served for more than 25 years, and depending on the rank or severity of the injury, were given a lifetime pension During the Soviet era, the Law “On State Pensions” was in force, which clearly regulated the retirement age for women and men, and also prescribed special conditions for certain categories of professions The collapse of the USSR led to major reforms in the country, incl and in pension provision