The Russian government on Thursday told...

The Russian Financial Markets Service forecast earlier funded pensions would reach 800-900 billion rubles ($30 bln) by 2010.

Shuvalov said he hoped the rise in the living standards would allow younger Russians to accumulate resources for decent pensions.

"I believe the situation will change, with the middle class to grow substantially by 2020 as the economy and national prosperity go up, which will increase significantly the number of those who can afford pension savings," Shuvalov said.

He did not explain how people approaching the pension age could help themselves.

MOSCOW, January 21 (RIA Novosti)