PFR Board Chairman Anton Drozdov has visited the Russian Investment Forum, which took place in Sochi on February 14 and 15, and attended two sessions dedicated to financial awareness and the use of big data.
While speaking at the session, ”Financial Awareness of the Population as a Cornerstone of Financial Stability,” Anton Drozdov noted that two factors obstructing pension awareness of Russians had always been the temporal remoteness of pensions and the payment of insurance contributions by employers. Considering those factors, the Pension Fund launched an annual educational campaign for high-school and university students in 2011; a special textbook was published, and pension awareness lessons were given in schools.
According to the PFR head, more efforts will be taken in this area shortly. “Last year was the year of volunteers, and this year we are launching a program of cooperation with volunteer organizations in order to make the Pension Fund more transparent for the young. In order to tell more, they will be involved in the information campaign,” he said.
The Pension Fund plans another project, which will encourage people to take interest in their pensions. “We are going to launch a project called ‘My Pension’. We will target at the audience, which already has some labor record but is still 15 to 20 years away from pension, and will use automatic newsletters and modeling of life situations to show their current position, the amount of pension they would get if they continue working as they are, and what should be done to gain the maximum advantage from pension insurance,” Drozdov said at the session.
Another issue, which was discussed at the forum with Anton Drozdov’s participation, was the use of big data in public governance. Drozdov said at the session that the government was using big data to learn every person better. “A person is the government’s top priority, so we should know all about the person and find out how the government could be most effective for its citizens and perform its functions best. This is why we are accumulating and sharing data with every other agency that needs it,” Drozdov said.
According to the PFR head, the agency is a keeper of big data; it processes about 350 million requests, interacts with 2,500 federal and regional government agencies as counterparties, and receives about 40 million applications from citizens. “The data growth has been on in a geometric progression. In the past, we kept record of only pensioners or working persons, but now we have 155 million individual accounts,” he said.
The Pension Fund is operating the Unified Social Security Information System that processes big data regarding 250 types of federal and regional payments and millions of their recipients. According to Drozdov, this is convenient for the authorities and government agencies, “which see very horizontal and vertical process, and know where assistance comes from to a person and who that person is.”
Soon enough, the PFR will use big data for making electronic employment record books. Artificial intelligence will be a new stage in big data processing. “Last year, we tested a pension assignment system based on artificial intelligence; it is quite accurate, processes complex pension laws, and offers a solution,” Drozdov said.