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Pension reform in Russia can be carried out without changing budget-minister

The Finance Ministry is finalising the draft pension reform plan, but the final decision will be made by the government

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, September 20 (Itar-Tass) —— Any decision concerning pension reform can be implemented without changing the budget, Finance Minister Anton Siluanov said.

“The contents can be changed without altering the [budget] parameters,” he said on Wednesday, September 19.

Siluanov stressed that pension reform is a serious and pressing issue on the agenda.

The government has several options and has to present its report to the president by October 1.

The Finance Ministry is finalising the draft pension reform plan, but the final decision will be made by the government.

Pension reform system is necessary for a deficit free budget in 2012, the Ministry of Economic Development said earlier.

The pension system is running a deficit of 3.4 percent of GDP under the existing rules.

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