You're reading: President vetoes law to keep early retirement age for women at 55

Ukrainian President Petro Poroshenko has proposed that the parliament does not extend the possibility of early retirement for women aged 55.

The head of state vetoed the law on amendments to the law on obligatory pension insurance regarding the improvement of the retirement fund previously passed by the parliament, and returned it to the parliament with his proposals.

The law states that before Jan. 1, 2022, women aged 55 years with a 30-year pensionable service have the right to early retirement if they leave their jobs.

The president proposed to remove this requirement.

“Taking into account the deficit of the budget of the Pension Fund of Ukraine in the past years which is covered using funds from the national budget, today there are no financial sources to implement the said requirement, as this will require additional expenses of Hr 387.5 million in 2015, according to information of the Cabinet of Ministers,” read the president’s proposal.

According to Ukrainian law, women are only allowed to retire early before Jan. 1, 2015.