An Economic and Statistical Analysis of Extrabudgetary Funds in the Russian Federation

The system of mandatory insurance in the Russian Federation is represented by three funds. They are the only form of social protection of the population. An analysis of the results of activities of these extrabudgetary structures will make it possible to assess the effectiveness of the current system of formation and use of extrabudgetary funds. The foreign experience in this field provides exposure to responsibility between an employee and their employer. It should be taken into account that Russia allocates revenues of extrabudgetary funds on the social basis provided by employers, without participation of employees. Joint and several responsibilities are also possible. The results of the study revealed that the existing social insurance system has the potential for development and adaptation to modern conditions, market and society requirements. Adopting the positive experience of foreign countries and highlighting the factors that have an impact, it is possible to adjust the items of income and expenditure of each of the funds. Keywords— extra-budgetary funds; social protection; income; expenditure; analysis.