Prior to Law No. 11 of 1992 was launched, there were not many Indonesian who understood the benefit of the pension program covering their retirement, as most people considered their families as their 'retirement fund'. 25 years after the Law was initiated, the number of Indonesia working people who understand and are aware of the need to have a pension plan is still quite limited. Based on data released by the FSA in the 2016 Pension Fund Yearbook, the number of Indonesian workers who have a pension is only around 6% - a very small number when compared with other developing countries in Southeast Asia.
The roll out the Social Security Act in 2004, which introduced the pension insurance program through BPJS Employment, was one effort to improve employees' welfare in Indonesia, for both full and part timer workers.
However, the presence of pensions as a mandatory program for employees also raised some challenges, particularly among employers. Many companies assumed that their own insurance programs were sufficient and are not very enthusiastic regarding the BPJS Employment program, given another regulatory framework was introduced.
Purpose and Objective
The 25th anniversary of the Law on Pension Funds provides the opportunity for all the relevant stakeholders to come together and evaluate the current state of the pension system in Indonesia, and to consider measures to improve the system going forward. Consideration will be given as to how to synergize pension plans with other welfare programs for all workers, so that these programs can be implemented in harmony and are able to provide the support which all workers will need when they are elderly.
Schedule & Venue
April 25 – 26, 2017 at Grand Hyatt Hotel Jakarta.
8 (eight) booths are available as showcase pension funds in Indonesia.
Session 1: Evaluation Pension System – Indonesia Contex
Moderator : Steven Tanner Bio - Steven Tanner.pdf
Session 2: Delivering Pension and Saving Scheme Coverage to the Informal Sector
Moderator : Iene Muliati - World Bank Bio - Iene Muliati.pdf
Session 3: Fiscal and Other Incentives for Pension and Saving Schemes
Moderator : Halim Gunawan Bio - Halim Gunawan.pdf
Session 4: Harmonization in Regulatory Framework for Pension and Savings – Mandatory vs Voluntary
Moderator : Moch. Muchlasin Bio - Moch. Muchlasin.pdf
Session 5: Governance for Public and Private Pension Schemes
Moderator : Nur Hasan Kurniawan Bio - Nur Hasan Kurniawan.pdf
Session 6: Challenges and Issues in Managing Investment of Mandatory and Voluntary Pension Scheme
Moderator : Ketut Ariadi Kusuma - World Bank Bio - Ketut Ariadi Kusuma.pdf
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