President of Ukraine Petro Poroshenko has vetoed Law of Ukraine No.1086 On Changes to Law of Ukraine On Mandatory Government Pension Insurance regarding improvement of pension coverage, RBK-Ukraine (РБК-Україна) reports.
“Prepared for consideration, with the President’s veto”, - the transmission status of the document says.
According to the President’s comments on the law adopted by the Verkhovna Rada of Ukraine on January 14, 2015, he cannot sign the Law because par.2, chapter 1 of the Law, envisages extension of the provision to January 1, 2022, permitting women to retire at age fifty-five if being discharged, with at least 30 years of pensionable service.
“Adoption of the law is aimed at protection of pension rights of women’s of pre-retirement age, who are non-competitive in the labour market and have faced economic hardship caused by mass layoffs. Along with this, and taking into consideration the shortage in the Pension Fund of Ukraine, which is funded from the government budget, what has been reported in recent years, this proposal cannot not be funded today, because, according to the information from the Cabinet of Ministers of Ukraine, this requires extra government spending in 2015 amounting to 387.5 million hryvnias. Given the said above, I propose to exclude par. 2, chapter II “Final Provisions” of the Law”, - the text of the President’s proposal reads.
