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The maximum 2017 Pension Security Benefit is IDR 3.8 million

Reporter: Dina Farisah | Editor: Dupla Kartini

JAKARTA. BPJS Ketenagakerjaan (BPJSTK) is working on a Pension Security (JP) program to meet the expectations of workers who want to better prepare for old age. This program is a complement to the Old Age Security (JHT) program for workers, which previously had been organized by BPJSTK.

The Director for Expansion of Participation and Inter-Agency Relationship between BPJS Ketenagakerjaan, E Ilyas Lubis explained, the Pension Security program contribution scheme is similar to the JHT contribution scheme, which involves contributions from employers and workers based on reported wages and maximum wage limits.

The amount of total contributions reaches 3% of workers’ wages, of which 2% of contributions are paid by companies / employers, and the remaining 1% is contributions from workers.

Based on Government Regulation (PP) No. 45 of 2015 concerning the Implementation of the JP Program, the amount of the 3% contribution will be reviewed periodically and the amount will be adjusted gradually until it reaches the ideal contribution rate in the range of 8%, so that benefits provided to workers are more optimal.

The wages and benefits limit for JP will be adjusted annually, as regulated in PP. 45 of 2015. In 2017, the maximum wage limit for the calculation of the JP program is IDR 7,703,500 which has been adjusted based on the rules in PP no. 45 of 2015.

“The amount of the maximum wage will be adjusted annually based on the annual growth rate of Gross Domestic Product (GDP),” said Ilyas through a press statement, Monday (13/2).

ILyas continued, the maximum limit for the provision of JP benefits will be adjusted based on the general inflation rate of the previous year. For this year, the maximum JP benefit paid to participants is IDR 3,833,000, with a minimum lower limit of IDR 319,450.

Ilyas emphasized the importance of reporting real wages as the basis for calculating the benefits of JHT and JP for workers entering retirement. “Wages that are reported to BPJS Ketenagakerjaan will determine the amount of benefits that workers will receive when they retire,” he said.

As of December 2016, the beneficiaries of the Pension Security benefits had reached 15,000 cases with a value of IDR 15.8 billion. Beneficiaries are workers who die or have permanent total disability with a contribution period of less than 15 years.

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