"According to our estimates, the volume of financial resources for the proposals made in the six-year period is about 500 billion rubles," the Interfax quotes the head of the Finance Ministry.

According to him, in connection with this, it is necessary to clarify the budget plans.

Siluanov noted that the necessary resources will be found in the budget of the Pension Fund.

"Accordingly, the amount of the transfer from the federal budget to the Pension Fund will also ensure all the initiatives announced by the President of the Russian Federation today," he said.

Earlier, Putin made a number of initiatives on the changes in the pension legislation during the televised address.