Türkiye's President Ahmet Necdet Sezer vetoed a major pension and social security reform bill on Wednesday, returning 15 of its articles to parliament for reconsideration. The legislation had been a key condition of Türkiye's multi-billion-dollar standby arrangement with the International Monetary Fund.
The bill proposed raising the retirement age to 65 for both men and women by 2048 and establishing universal health insurance. Sezer objected to the retirement-age provision, arguing it was inappropriate given that average life expectancy in Türkiye stands at just 66 years.
This was the second IMF-related veto by Sezer in recent weeks. He earlier rejected a separate measure that would have consolidated three social security agencies into a single body to reduce a mounting deficit. Under constitutional rules, if parliament re-passes either bill unchanged, Sezer must sign it, though he retains the option of referring the legislation to the constitutional court.
The social security overhaul is central to Türkiye's broader economic reform commitments made after the severe financial crisis of 2001. The IMF withheld a 1.58 billion dollar installment of a nearly 10 billion dollar credit line over delays in passing the reforms, before finally releasing the funds in December 2005.
Historical summary. TurkishPress restated this wire report, first published in May 2006, in its own words.