Putin revealed the main objective of the pension reform

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Photo: said tsarnaev / RIA Novosti

Russian President Vladimir Putin said that the main purpose of the changes in the pension system is to maintain its stability. The text of the President’s address to the nation published on the Kremlin website on Wednesday, August 29.

“The main task is to ensure the sustainability and financial stability of the pension system for years to come. And that means not only preservation but also growth of income, pensions of current and future pensioners”, — he said during a televised address.

Putin stressed that the government’s proposed changes will allow to provide steady growth of incomes of pensioners. “In 2019, the indexing of old-age pensions will be about 7 percent, which is twice the projected inflation for the end of 2018. Overall, over the next six years we will be able annually to increase old-age pension for pensioners on the average on one thousand roubles”, — said the Russian leader.

The head of state admitted that many years wary of any initiatives to reform the pension system, but in the course of careful analysis came to the conclusion that “it is impossible to pull further”. “But our decisions must be fair, balanced, necessarily taking into account the interests of the people,” the President said.

Video, photo All from Russia.

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