JAKARTA. The Workers Social Security Management Agency (BPJS TK), which manages Rp 187 trillion (US$14.9 billion) worth of social security funds collected from employers and workers, gained Rp 18.1 trillion in investment returns in 2014.
“The returns from investment, mostly placed in portfolios such as bank deposits, bonds, capital markets, property and capital participation in state-owned enterprises, grew by 25.33 percent to Rp 18.1 trillion from Rp 14.8 trillion in 2013,” BPJS director of investment Jeffry Manullang said on Thursday night.
He declined to describe the investment results as profit, as BPJS TK, which provides insurance in the form of death benefits, occupational accident benefits and old-age risk benefits for workers, has been a non-profit organization or trust fund since Jan. 1, 2014.
He underlined that the larger part of the investment returns would be distributed to program participants.
Jeffry explained that BPJS TK’s assets were expected to grow sharply in investment gains and premiums with the inclusion of 5.5 million civil servants and more than two million Indonesian Military (TNI) and National Police personnel in the social security programs and the launching of the pension program on July 1 this year.
He added that BPJS TK would continue to implement a professional management system in managing workers’ funds and publicize the social security programs among companies and salaried workers to reach the universal coverage target, achieve optimum growth in premium contribution and improve workers’ welfare. (Ridwan Max Sijabat)
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