Jamsostek reaps Rp 2.5t in two months

JAKARTA. State-owned insurance company PT Jamsostek booked Rp 2.5 trillion in profits from its investment in the bond and capital markets in January and February this year.

Jamsostek CEO Elvyn G. Masassya said the yield from Jamsostek’s investments in bond trading and the capital market was higher than during the same period last year, thanks to sustainable economic growth and the government’s success in suppressing inflation rate for the past two months.

 “We are optimistic we can reach our targeted profits of Rp 14 trillion from our reinvestment program this year,” he said on Saturday.

He said Jamsostek would be able this year to pay interest rates of around 11 percent to workers, 1 percent higher than that paid in 2012. This 11 percent rate, which was higher than bank deposit rates, was expected to encourage more companies and employees to participate in the social security programs, especially the risk scheme for the elderly, he added.

“Currently,  the number of workers registered with Jamsostek totals 11.5 million and this figure is expected to reach around 17 million in 2015. Meanwhile our assets amount to Rp 137 trillion and they are expected to continue rising to around Rp 190 trillion in 2015,” he said.