Putin’s proposal on pensions will cost billions of rubles

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Photo: Alexander Kryazhev / RIA Novosti

The proposals of President Vladimir Putin for the adjustment of the pension reform will cost the Russian budget of 500 billion roubles. It is reported TASS with reference to first Vice Premier, Finance Minister Anton Siluanov.

“According to our estimates, the volume of financial resources on the proposals in a six-year period is about 500 billion rubles,” — he said. The Minister also noted that this would require further planning of the budget of the Pension Fund for the forthcoming three-year and six-year periods.

According to Siluanov, all the President’s initiatives were “aimed at improving the welfare of people, primarily in pre-retirement age to improve social security of pensioners and, of course, require financial costs.”

Earlier, Putin announced the commutation of the pension reform. In particular, the authorities intend to reduce the age of retirement for women to 63 years, as was in the original draft, up to 60 years in the new version. The President also urged the people that in the next two years planned to retire, to go at it for six months before the new retirement age.

Prime Minister Dmitry Medvedev announced amendments to the pension law on June 14. The reform includes raising the retirement age eight years for women and five for men. The document has already passed its first reading in the state Duma.

Video, photo All from Russia.

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