“Business Russia”, a high profile lobby group representing companies outside the natural resources sector, has presented (World Bank) data to Group 6 indicating that the Russian 34% “insurance contribution” is much higher than in other countries. It also presented calculations on how to improve the position of the budget while reducing the rate. 

Jeff says that ….

Read more »

The current so-called 34% “insurance contribution” is paid by employers on wages of up to 463,000 rubles. It consists of 26% to the Pension Fund of the Russian Federation; 2.9% to the Social Insurance Fund (compulsory social insurance for temporary incapacity to work and for maternity); 2.1% to the Federal Compulsory Medical Insurance Fund; and 3% to territorial compulsory medical insurance funds. The Pension Funds is in large deficit.

Jeff says that ….

Read more »