Download pdf - by - Otoritas Jasa Keuangan...BPJS Ketenagakerjaan (Social Security Administering Body (BPJS) for Employment) PT TASPEN (PERSERO) PT ASABRI (PERSERO) As of December 31, 2016 EPF-DBPF

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


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


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


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


Deposits

Shares

Mutual Funds

Government Bonds

Bonds


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)


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


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


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


every emitten


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


every emitten and overall maximum 40% of the

total of investment



Corporate Bonds and Corporate Sukuk


every emitten and overall maximum 50% of the

total of investment



Mutual Fund


every manager investment and overall

maximum 50% 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




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



Share Maximum 10% of the total of investment for

every emitten and overall maximum 40% of




Corporate Bonds and Corporate Sukuk Maximum 15% of the total of investment for

every emitten and overall maximum 50% of




Mutual Fund Maximum 15% of the total of investment for

every manager investment and overall

maximum 50% 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



financial hardship of employers

(DB-EPF)

life cycle fund

Asset Liability Management

Closed Participant

Performance Measured

lack of analysis

actuarial interest rate vs ROI