The article considers the formation of a system of indicators to assess the level of well-being of the subjects of the Russian Federation in the context of current socio-economic realities and the growing differentiation of the population by income level. The introduction emphasizes the need for high-quality information support, in accordance with international standards, for an adequate assessment of poverty and inequality. Given the high importance of these issues, attention is focused on the importance of developing an integrated approach to assessing the level of well-being, quality of life and satisfaction of the population. The main focus is on the analysis of existing international practices and methodologies used by organizations such as the United Nations, the World Bank and the OECD. In the course of the study, a system of 21 indicators was developed covering various aspects of the population's life, including income, access to education and health care, as well as the level of social security. The conclusion summarizes, noting that the proposed system of indicators covers 74 regions of the Russian Federation for 2017 and 2018, which makes it possible to more fully assess the level of well-being in the country and identify key problems for further analysis and improvement of social policy.