The upper house of the Russian parliament at a plenary meeting on November 10 approved a law according to which money seized from violators of anti-corruption legislation will be credited to the PFR budget, according to the website of the Federation Council.
According to Elena Bibikova, deputy chairman of the Federation Council Committee on Social Policy, the law brings into line the provisions of the legislation on compulsory pension insurance and the Budget Code. The authors of the document are a group of deputies from the Liberal Democratic Party.
Currently, the law “On Compulsory Pension Insurance in the Russian Federation” regulates that the budget of the Pension Fund of Russia is formed from insurance contributions, federal budget funds, and other sources.
Now the PFR budget will also be replenished with confiscated funds obtained through the commission of corruption offenses, as well as amounts from the sale of confiscated property, also acquired through corruption. The fund will distribute this money for pensions, social benefits, and benefits.
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