OREANDA-NEWS. April 14, 2009. Participants discussed the prospects for improving the pension system.

President Medvedev said that the relevant draft laws are being finalised and that as of next year the principles of forming the pension system receipts will change. The unified social tax will be replaced by insurance contributions, and an insurance-based pension system will be developed.

According to the head of state, these changes will make the pension system better, more efficient and more reliable.

The President added that the desire of the business community to avoid increases in insurance contributions in 2010 due to the current crisis has been taken into account; if necessary, compensatory measures designed to reduce the tax burden will be proposed in the future.

Dmitry Medvedev also announced that pensions and other social security benefits will increase in 2010.