Awareness of the Need for Enhanced Pension Funds

By : Herry Barus And Aldo Bella Putra | Saturday, September 22 2018 - 18:30 IWST

PT Asuransi Jiwa Manulife Indonesia (Foto Ist)
PT Asuransi Jiwa Manulife Indonesia (Foto Ist)

INDUSTRY.co.id - Surabaya - Manulife Indonesia said that Indonesian public awareness in planning pension funds is still low, because of the total number of workers in Indonesia; only about 4 percent of formal workers are members of the Financial Institution Pension Fund Program (DPLK).

 Manulife Indonesia Director & Chief Employee Benefits, Karjadi Pranoto in Surabaya, Friday (9/21/2018) said that based on the 2017 Financial Services Authority (OJK) data, the number of DPLK participants in 2017 was 3,055,617 workers, while the number of formal sector workers recorded by the Central Statistics Agency (BPS) in 2017 as many as 73.98 million people.

"From this data there are only about 4 percent of formal workers who joined through the DPLK membership. Seeing a low percentage of employee participation in pension funds, this condition is an opportunity and potential for the Manulife Indonesia DPLK to continue working on the market and periodically socialize the role pension funds to build awareness of employers, "Karjadi said.

He said the DPLK program from Manulife Indonesia is trying to encourage awareness of planning for pension funds, with education in the form of education on the importance of planning pension funds for companies or employers.

"As one of the largest DPLK in Indonesia, we strive to increase managed assets, hold education about the role of pension funds for companies and provide superior services supported by mobile services for the convenience of participants. We are also ready to serve companies that want to provide severance programs for employees, "he said.

This effort, he said, is in line with Manulife's commitment to fulfilling the obligations of employers to its employees, and refers to government policies as regulated by the Manpower Act No. 13/2003, specifically Article 167.

Karjadi, as reported by Antara, said that the management of pension funds is an added value for the company so that they not only become companies that provide financial benefits on a regular basis but can provide long-term welfare benefits for their employees in the future and in anticipation of future risks such as termination of employment. (Layoffs) to employees.

 Through the DPLK Program, the burden of the company or employer to pay a large amount of funds when the retired worker will decrease so as not to interfere with the company's cash flow.

Of course, DPLK can also be a better solution so companies can pay their pension obligations gradually from an early age to employees through the Pension Fund.

News Comment

Today's Industry

Minister of Finance Sri Mulyani Indrawati (Photo by PR of Cabinet Secretariat)

Senin, 21 Juni 2021 - 22:37 WIB

Finance Minister Pushes for Speeding Up Regional Fund Usage

Realization of funds transferred to the regions for COVID-19 management needs to be accelerated, Minister of Finance Sri Mulyani Indrawati has said.

vaccine arrives at Soekarno Hatta International Airport in Tangerang, Banten

Senin, 21 Juni 2021 - 21:40 WIB

10 Million Sinovac COVID-19 Vaccine Bulks Arrive in Indonesia

As many as 10 million Sinovac-manufactured COVID-19 vaccines in the form of raw material or bulk Sunday (20/06) arrived at Soekarno-Hatta airport in Tangerang city, Banten province.

President Jokowi inspects mass COVIID-19 vaccination at Bogor Railway Station, Thursday, (17/06). Photo by: BPMI of Presidential Secretariat.

Senin, 21 Juni 2021 - 20:30 WIB

Minister Orders KAI to Provide COVID-19 Random Tests at Commuter Line Stations

Minister of Transportation Budi Karya Sumadi has ordered state railway company PT KAI to provide COVID-19 random tests for passengers of Greater Jakarta commuter line (KRL Jabodetabek).

Vice President Ma’ruf Amin. (Photo by: Vice President’s Secretariat)

Senin, 21 Juni 2021 - 19:23 WIB

VP Ma’ruf Amin: 40% of Gov’t Goods, Services to be Procured from Local MSMEs

The Government continues to promote the use of domestic products through allocation of Micro, Small, and Medium-sized Enterprises (MSMEs) products of at least 40 percent for the Government’s…

Vice President Ma’ruf Amin during Closing of National Conference on Public Security and Defense System, at Sentul, West Java province, Friday (18/6). (Photo: Vice President Secretariat)

Minggu, 20 Juni 2021 - 19:24 WIB

VP Calls for Increased Role of Security, Defense System Amid Global Challenges

The role of security and defense system should be strengthened to protect the entire nation, state and all citizens in facing the increasing global challenges, Vice President Ma’ruf Amin has…