Russia is still in the midst of making a transition from a command economy to a partial free-market system and is still developing it's social security system. Social security and welfare programs provide modest support for the most vulnerable segments of Russia's population: elderly pensioners, veterans, infants and children, expectant mothers, families with more than one child, invalids, and people with disabilities. Unfortunately, current programs do not cover everybody.
The Fund for Social Support in Russia supplements the social assistance programs. It is financed through the Ministry of Social Protection. The federal government allows for sub-national organizations to arrange their own social services. The quantity and quality of social services at the local level vary from region to region. The most common form of social services are food vouchers and cash payments to cover specific items such as utility bills.
Social insurance is available for people born in 1967 or later. This covers employed citizens, self-employed persons, and independent farmers. There are special systems for civil servants, military personnel, police officers, war veterans, and other specified groups.
If you want to move money abroad, from Russia or to Russia for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.
Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.
Fexco will help you to keep your overseas money transfer costs to a minimum.
|Fee||£10 < £5K or Free > £5k|
|Ccy||All (130 currencies, incl ‘exotics’)|
|Services||Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone.|
When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.