Upload
others
View
6
Download
0
Embed Size (px)
Citation preview
by
Asep Suwondo
Acting Director Of Statistic & Information
For Non Bank Financial Institutions
Indonesia Financial Services Authority
179
44
25
Pension Fund
Defined Benefit Pension Funds (EPF-DBPF)
Defined Contribution Pension Funds (EPF-DCPF)
Financial Institution Pension Funds (FIPF)
BPJS Ketenagakerjaan
(Social Security Administering Body (BPJS) for Employment)
PT TASPEN (PERSERO) PT ASABRI (PERSERO)
As of December 31, 2016
EPF-DBPF EPF-DCPF FIPF
Participants 1,088,755 352,610 2,963,043
% of Manppower** 0.92% 0.30% 2.50%
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
Pension Benefit
BPJSKetenagakerjaan
Pension Fund
AccumulationProgram
PT Taspen
Pension Fund
AccumulationProgram
PT Asabri
Participants 9,130,671 4,299,374 936,835
% of Manppower** 7.71% 3.63% 0.79%
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
*AS OF DECEMBER 31, 2016 ** INFORMAL AND FORMAL MANPOWER
TOTAL
18,771,288 persons /
16% of Manpower**
6.29%
20.32% 20.77%
17.03%
14.20%
9.88% 7.45%
3.73%
0.26% 0.03% 0.02% 0.01% 0.01% 0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
< 20 Age Age 20 <x < 25
Age 25 <x < 30
Age 30 <x < 35
Age 35 <x < 40
Age 40 <x < 45
Age 45 <x < 50
Age 50 <x < 55
Age 55 <x < 60
Age 60 <x < 65
Age 65 <x < 70
Age 70 <x < 75
> 75 Age
Grouping of the participant of the pension benefit program held by BPJS Ketenagakerjaan based on age
Grouping of the participant of the pension fund based on age
0.56%
24.42%
33.65%
30.02%
11.35%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
Age 20 Age 20 < x < 30 Age 30 < x < 40 Age 40 < x < 50 Age > 50
As of December 31, 2016
Total assets available
EPF-DBPF EPF-DCPF FIPF
Des-16 139.87 26.07 62.83
-
20.00
40.00
60.00
80.00
100.00
120.00
140.00
160.00
Total Pension Fund Investment Based On
Pension Plan
Pension BenefitProgram
BPJSKetenagakerjaan
Pension FundAccumulation
ProgramPT Taspen
Pension FundAccumulation
ProgramPT Asabri
Des-16 12.00 95.35 18.72
-
20.00
40.00
60.00
80.00
100.00
120.00
Total Investment
As of December 31, 2016
Total Investment 228.77 Trillion Of Rupiah
Expressed in Trillion Of Rupiah Expressed in Trillion Of Rupiah
ROI
EPF-DBPF : 7.8 %
EPF-DCPF : 6.2 %
FIPF : 6.0 %
ROI
Pension Benefit Program BPJS Ketenagakerjaan 6.59%
Pension Fund Accumulation Program PT Asabri 4.28%
14%
26%
25%
15%
7%
8% 5%
Investments Portfolio in EPF DBPF
Time Deposits and Saving
Government Bonds
Bonds and Sukuk
Shares
Mutual Funds
Land and Building
Other
15%
21%
27%
20%
7%
5% 5%
Investments Portfolio in EPF DCPF
Time Deposits and Saving
Government Bonds
Bonds and Sukuk
Shares
Mutual Funds
Land and Building
Other
55%
20%
14%
5%
4% 2%
Investments Portfolio in FIPF
Time Deposits
Government Bonds
Bonds and Sukuk
Shares
Mutual Funds
Other
Other: Negotiable Deposit Certificate
Certificate of Bank Indonesia
Medium Term Note
Assets backed Security
Real Estate Investment Funds
Direct Placement in Share
As of December 31, 2016
34%
11% 42%
0,2%
13%
Investments Portfolio in Pension Fund Accumulation Program
PT Asabri
Shares
Deposits
Bonds
Medium Term Notes
Mutual Funds
17%
80%
2%
Investments Portfolio in Pension Fund Accumulation Program
PT Taspen
Deposits
Bonds and Sukuk
Shares, Mutual Funds and
Direct Placement
25%
13%
14%
45%
3%
Investments Portfolio in Pension Benefit Program
BPJS Ketenagakerjaan
Deposits
Shares
Mutual Funds
Government Bonds
Bonds
As of December 31, 2016
8
23
5 3 1 2 6 5 2 3 3
13
23
9 14
5 13
8 16
61
Government Bonds >= 30% Government Bonds 20% - <30% Government Bonds 15% - <20% Government Bonds 10% - <15% Government Bonds < 10%
Asset > 1 Trillion Asset 500 B - 1T Asset 100 B - 500 B Asset < 100 Billion
18
55
41
30
79
Government Bonds >=30% Government Bonds 20%-<30% Government Bonds 15%-<20% Government Bonds 10%-<15% Government Bonds < 10%
As of December 31, 2016 Pension Fund
Total Government Bonds (SBN) Investment owned by BPJS Ketenagakerjaan and Social Security Fund (DJS) has
reached the provisions as contained in POJK No.1 / POJK.05 / 2016 Concerning SBN investment which is 30% each for
BPJS Ketenagakerjaan and 50% for Social Security Fund (DJS)
BPJS Ketenagakerjaan
5% 4%
8%
20%
11%
16%
2%
21%
12%
Agriculture Basic Industry Consumer Finance Infrastructure Mining Miscellaneous
Industry
Property Trade
1% 1% 3%
59%
25%
3% 6%
2%
Agriculture Basic Industry Consumer Finance Infrastructure Mining Property Trade
Shares
Bonds
Pension fund investment on Shares and bondsAs of December 31, 2016
As of December 31, 2016
43.16%
21.17%
9.67%
26.00%
18.81% 17.12%
18.77%
45.31%
maturity < 1 Year maturity 1 - 5 Years maturity 5 - 10 Years maturity > 10 Years
Asset Liability
Asset/Liability Matching of pension fund As of December 31, 2016
Investment Instrument Limitation (Max) Saving, Deposit On Call, Time Deposits, Negotiable Deposit
Certificate, Certificate of Bank Indonesia, Government
Bonds, Share, Bonds, Sukuk, Assets backed Security, Real
Estate Investment Funds, Stock Option Contracts.
100% of the total of investment
Mutual Fund and ETF 100% of the total of investment
Private Equity Fund 10% of the total of investment
Medium Terms Note 10% of the total of investment
Repurchase Agreement
2 % of the total of investment For every
counterpart
5% of the total of investment
Direct Placement
Direct Placement in Indonesia 15% of the total of investment
Direct Placement in aboard 5% of the total of investment
*) for Direct Placement to the financial services company Can be more than 15% of the total of investment
Property 20% of the total of investment
The amount of placement on all types of investments on one party except in Government Bonds (SBN)
maximum 20% of the total Pension Fund investment
The limits of any party to Mutual Fund investments, Assets backed Security, and / or Collective
Investment Contract apply to the same Investment Manager
The employer's pension fund is required to have Goverment Bond at least 30% of the total of
investment
Investment Instrument Limitation
Saving, Deposit On Call, Time Deposits,
Negotiable Deposit Certificate
a. Maximun 25 % of the total of investment to every bank government; and
b. Maximum 15 % of the total of investment to every bank besides government
bank;
Government Bonds not subject to restrictions on the number and percentage
Certificate of Bank Indonesia not subject to restrictions on the number and percentage.
Corporate Bonds Maximum 50% of the total of
investment
Share Maximum 50% of the total of
investment
Maximum 5 % the total of investment for
Every emitten
Mutual Fund Maximum 50% of the total of
investment
Maximum15% the total of investment for
Every Manager Investment
Assets backed Security Maximum 20% of the total of
investment
Maximum 10% the total of investment for
Every Manager Investment or Publisher Real estate investment fund
repurchase agreement; Maximum 5% of the total of
investment
Maximum 2 % the total of investment for
every counterpart
Direct Placement Maximum 5% of the total of
investment
Maximum 2% the total of investment for
every counterpart
Maximum 20% from financial service
Property Maximum 10% of the total of
investment
Local Goverment Bonds Maximum 50% of the total of
investment
Maximum 2 % the total of investment for
every emitten
Investment Instrument Limitation
Government Bonds Minimum 40% of the total of investment
Deposit On Call, Time Deposits, Non Negotiable Deposit
Certificate
Maximum 30% of the total of investment for
every government bank
On one party not exceed 35% of
the total of investment
Share
Maximum 10% of the total of investment for
every emitten and overall maximum 40% of the
total of investment
On one party not exceed 35% of
the total of investment
Corporate Bonds and Corporate Sukuk
Maximum 15% of the total of investment for
every emitten and overall maximum 50% of the
total of investment
On one party not exceed 35% of
the total of investment
Mutual Fund
Maximum 15% of the total of investment for
every manager investment and overall
maximum 50% of the total of investment
On one party not exceed 35% of
the total of investment
Direct Placement
For each party not exceed 5% of the total of
investment and overall maximum 10% of the
total of investment
On one party not exceed 35% of
the total of investment
Investment Instrument Limitation
Government Bonds Minimum 50% of the total of investment
Deposit On Call, Time Deposits, Non Negotiable
Deposit Certificate Maximum 5% of the total of investment for
every government bank
On one party not exceed 25% of
the total of investment
Share Maximum 10% of the total of investment for
every emitten and overall maximum 40% of
the total of investment
On one party not exceed 25% of
the total of investment
Corporate Bonds and Corporate Sukuk Maximum 15% of the total of investment for
every emitten and overall maximum 50% of
the total of investment
On one party not exceed 25% of
the total of investment
Mutual Fund Maximum 15% of the total of investment for
every manager investment and overall
maximum 50% of the total of investment
On one party not exceed 25% of
the total of investment
Direct Placement
For each party not exceed 5% of the total of
investment and overall maximum 10% of the
total of investment
On one party not exceed 25% of
the total of investment
financial hardship of employers
(DB-EPF)
life cycle fund
Asset Liability Management
Closed Participant
Performance Measured
lack of analysis
actuarial interest rate vs ROI