Poroshenko signs law on pension reform

 Ukrainian President Petro Poroshenko has signed the bill "On Amendments to Certain Legislative Acts of Ukraine Regarding Pensions Increase" in the presence of Prime Minister Volodymyr Groysman and Head of the Presidential Administration Ihor Rainin.

"I want to congratulate all pensioners, because justice has been restored, and I stress that the law provides not only for a current increase, because pensioners have always got bigger payments before the elections. We are doing it now, and modernization of pensions is laid down as an efficient mechanism on an ongoing basis," to the presidential press service quoted Poroshenko as saying.

As reported, on October 3, the Verkhovna Rada adopted a pension reform, which provides for modernizing pensions since October and raising the minimum insurance period for retirement from 15 to 25 years from January 1, 2018. Some 288 deputies voted for relevant bill No. 6614 (with 226 minimum required).