Vladimir Putin's introductory remarks:

Good afternoon,

Today we'll discuss the development of the pension system. First of all, I'd like to emphasise that all decisions on increasing pensions in 2009 should be fulfilled by all means.

As you know, starting on March 1, the basic part of a retirement pension has been increased by 8.7%, as we have promised. It will be adjusted once again before the end of this year and will grow by another 31.4% starting on December 1.

I have already signed the Government's Resolution on increasing the insurance part of the pension by 17.5% starting on April 1 of this year. In August, it will grow by another 7.5%.

Consequently, as we have planned, by the end of the year the average social pension will not be below the subsistence level.

The new version of the budget includes appropriations required for the implementation of these commitments. We won't save money on these items. On the contrary, we will increase budget subsidies to the Pension Fund by another substantial sum of 374 billion roubles.

Today, I suggest discussing a report by the Ministry of Healthcare and Social Development on drafting measures to further increase the living standards of pensioners.

I'd like to remind you that last September the Government determined the directions of the pension system's development, and compiled a list of major measures that are designed to guarantee its stability and effectiveness. These include a switch from the unified social tax to insurance contributions, revision of the pension rights of citizens who received them before 1991, and formation of a system of additional support for low-income pensioners, especially those who live in Siberia and the Russian Far East, where the subsistence level is below the average.

Put together, these measures should gradually bring our pension system into line with international standards.

"The planned programme for the development of the pension system is our absolute priority. We must start implementing it in 2010, although we are already taking the required measures to create the conditions for its full-scale implementation."

Ms Golikova, please take the floor.