The Russian government will use pension savings of the working people for 2017 to pay the current retirees, Deputy Prime Minister Olga Golodets said.
The measure was used for the first time for savings in 2014 to spare more state money for the current pensioners.
“We have reached a definite limit, there is no money to transfer to the Pension Fund”, Golodets said referring to a federal budget payment to the state Pension Fund.
She confirmed continuation of pension savings retention in 2017.
Presidential spokesman Dmitry Peskov said that the pension savings freeze decision was government’s responsibility.
“This question must be addressed to the government, this is a government’s decision”, he said. (Prime/Business World Magazine)