Depok-Global economic conditions are currently experiencing quite rapid changes. These changes certainly need to be faced wisely. Indonesia’s economic conditions have not been spared from these changes, both due to the Covid-19 pandemic that has occurred in recent years, as well as other factors. This was conveyed by Bambang Panular, President Director of PT. Jasa Raharja in a public lecture organized by the Insurance and Actuarial Administration Student Association (HIMASIRA), Vocational Education Program, Universitas Indonesia (UI) in collaboration with the Jasa Raharja Pension Fund on December 6, 2022.
In his keynote speech, Bambang also said that information regarding pension fund management needs to be provided, including students. “Financial literacy, especially pension funds, needs to be done for better financial management now and in the future,” he said.
(Photo: Bambang delivering the keynote speech at the public lecture)
Deddy Irawan, Finance and Investment Director of PT Jasa Raharja, who was a speaker at the public lecture, said that pension funds exist to maintain the continuity of one’s income. He said, “There are times when someone will stop working because of an unproductive age. So, we must ensure that we have a pension fund so that we can survive even though we are no longer productive. Apart from that, we also have to ensure that the company where we work provides benefits in the form of a pension program.”
Currently, there are two pension programs in effect in Indonesia, namely the mandatory pension program and the voluntary pension program. Mandatory pension programs are run by state-established institutions, such as PT Taspen and PT ASABRI for civil servant employees, members of the Indonesian National Army/Indonesian Republic Police, and civil servants of the Ministry of Defense and Security. Meanwhile, for other workers, a pension program guarantee is provided through BPJS Ketenagakerjaan.
(Photo: Deddy introduces the types of pension programs in Indonesia)
Deddy added, “Voluntary pension programs include Employer Pension Funds (DPPK) and Financial Institution Pension Funds (DPLK). DPPK established by a person or entity to administer a defined benefit program or defined contribution program. Part or all employees as participants and who give rise to obligations to the employer. Meanwhile, DPLK are formed by banks or life insurance companies to organize defined contribution pension programs for individuals, both employees and self-employed workers who are separate from the DPPK for employees of the bank or life insurance company concerned.
Drs. Asrori, MA, FLMI., Head of the UI Vocational Applied Administration and Business Department, said that the public lectures held were of great value to students. “Knowledge about pension funds needs to be known to students today. The opportunity to gain knowledge from the directors of the Jasa Raharja Pension Fund can be used as a reference for them to deepen their knowledge of pension funds and apply them now and in the future,” said Asrori.
