Since the 1990s, Russia has experienced a serious population crisis. The potentials in population growth weakened continually due to decreasing total population, significantly falling birth rates, high mortality rates and negative population growth for many years. The increasingly grave population problems continue to threaten Russia’s state development and national destiny, which has aroused great concern in Russia. In order to improve the fertility rate of Russian residents, the Government of the Russian Federation has set up the “Mother’s Fund” for those families who give birth to or adopt the second child or more children since 2007. Generally speaking, the effects of the “Mother’s Fund” is obvious, whereas some bottleneck problems during the implementation has also been exposed, which mainly include low efficiency, obviously different regional effects in implementation and lack of funding sources. In the long run, Russia still faces serious population problems. Its fertility rate is far from what is required for population regeneration. Therefore, the “Mother’s Fund”, as a direct material stimulus to the incentives of fertility, the Russian government may still need to retain and improve further.