During the reforms in Russia society comes to an understanding of the priority of social policy, which is essential for the creation of normal living conditions of citizens, development and full use of their skills. In this context, the relevance is obvious social problems existing at the present stage of development of Russia. Today the problems of development and implementation of social policy - is rapidly developing area of ​​research. Together with it, representatives of different areas of a science defend the rights to social policy. The general is that the economic component of social policy is present in most studies of different specialists. The economic essence of social policy is revealed through its functions, directions for forming and holding, development priorities of the state. The analysis shows that social policy, multifaceted process, multi-level and systemic phenomenon. The main objective of social policy – is raising the level and quality of life in order to stimulate economic growth and progressive social and economic development. Obviously, social policy and the economy are closely interrelated and interdependent. Social policies directly related to economic development. With the efficient use of methods, tools, instruments of social policy is provided economic growth and development of the state. Social policy is an indicator of socio-economic development. However, the modern economy cannot be effective unless it does not fulfill its main purpose - to meet the needs of citizens, ensure the growth of their standard of living and the national welfare.