For the next few years, Russian pensioners will have to forget about increasing pensions. The Russian government has planned a budget sequestration in the part "Development of the pension system".

Beginning next year and until the end of 2019, financial expenses for this area will be reduced by 560 billion rubles in comparison with the original version of the document. The innovation has already been approved by the Cabinet, as reported in the explanatory note to the draft budget for 2018-2020.

As follows from the updated version of the financial document, in 2018 pension payments from the state treasury as a whole across the country will amount to 3.07 trillion rubles (compared to 3.31 trillion rubles laid down in the law on the budget for 2017-2019). And in 2019 - 3.11 trillion rubles (3.43 trillion rubles). As of 2020, during this period, a slight increase is planned. Pensions will grow by 4 percent, to 3.2 trillion rubles.

According to the Russian government, the pension budget will be sequestered by increasing the length of service for retirement to government officials, the absence of indexation for working pension recipients, as well as a rather low level of inflation.

September 18, the Russian government approved the draft federal budget for the next three-year plan. The updated version of the financial document will be submitted for consideration by the deputies of the State Duma by the end of September 2017.