UPDATE 1-Russia's Putin says pension reform must be balanced and cautious

Russian President Vladimir Putin said on Tuesday that any decision on reforming the pension system must be balanced and cautious, after admitting there had been a "sharp" reaction to the prospect of a higher retirement age from the public.

The government has proposed gradually raising the retirement age to 65 from 60 for men and to 63 from 55 for women. Putin said he planned to announce his view on the reform later, likely on Wednesday.

Polls show most Russians oppose the move that the government says is needed to boost the economy.

Putin told a government meeting in the Siberian city of Omsk on Tuesday that any changes in the pension age must provide a worthy standard of living for Russia's 147 million-strong population.

"Of course, all this has drawn a predictable reaction, a rather sharp discussion in public," Putin said.

"We cannot act routinely, formally, but only take a balanced and cautious approach," he added.

"At the same time we need to take into account the current situation in the economy and the labor market, we must understand what the future holds for the country in 10, 20 and even 30 years," Putin said.

He did not announce any changes to the reform plan but said he had asked the government to consult with political parties, public organizations, and regional administrations to review the legislation before the second reading in the State Duma.

Lawmakers passed the bill in the first reading in July. To become law, the bill must pass three readings in the State Duma lower house of parliament and then must be approved by the upper house and finally signed by the president.

"Clearly, every decision regarding the interests of citizens - mainly the elderly citizens, their labor rights, medical assistance and social security, must be made with a forward-thinking approach," the president said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)