ALLAH SWT

Historical development of pension funds in Indonesia which occurred in the mid-19th century is the effort by large employers espor plants, while the Indonesian people involved in large numbers in agriculture and in non tradisiaonal perkerjakan as wage laborers, wage labor turns out to be no guarantee the livelihoods of its workers because wages are not sufficient for everyday needs for very low wages.

In 1939 the workers dared to demand that they be given the old age insurance or old age pension in the future. Finally, the entrepreneur receives guidance, because if not in the meet will result in a continued course of running of the company. The Company has a retirement pension by establishing candangan or impose on anyone to pembeyaran company pension for workers who quit at the age of retirement, the more advanced levels of the company eventually set up a foundation in a program separate from the company's foundation.

Pension funds in the hold in an effort to guarantee the livelihoods of the kariyawan. The assurance was given in the form of benefits or pension benefits at retirement kariyawan or accident. This guarantee will give you peace at kariyawan because of the certainty in the future. This warranty will also give you the motivation and the company kariyawan so kariyawan equally at disadvantage.





B. Understanding of pensions and corporate pension funds



understanding of company pension funds in general can be said that companies collect money from employees of a company and provide retirement income to participants according to the agreement. This means that under the agreement that is awarded a pension after retirement karyawaan.

According to Law number 11 year 1992 pension fund'' is a legal entity that manage and explain the program that promised pension benefits.'' Thus, it is clear that manage pension funds are companies that have such legal entity or a public bank life insurance.

Definition of retirement is'' a person's right to earn income after working many years after retirement or any other reason in accordance with the agreement that has been in charge.''

So the activity is picking up companies and pension funds iurang cut from the company.

While superannuation funds are institutions that offer services in the form of preparation for retirement. For employees of the company, pension fund services can provide peace in jaminaan old days, thus increasing productivity pekarja. Superannuation funds are also a potential source of funding for businesses. Therefore, the same insurance company, pension fund new obligations due in a very long time, so it can be a source of long-term.





C. Retirement goals

For the purpose for organizing the employer pension fund for employees are as follows:
To reward its employees who have served in the company.
In order for employees in the retirement age will still be able to enjoy the results obtained after working at his company.
Providing security in terms of bringing about a decrease bathiniyah karyawaan turn over.
Increase moltifasi karyawaan in carrying out everyday tasks.
Improve the image of firms in the eyes of society and government.



Benefits for employees who receive a pension:

A. Certainty of income in the future after retirement, this will affect the performance when he was still productive.

2. Provide a sense of security and can meningkattkan motivation to work.

3. Additional employees have komfensasi, though it will in enjoy in retirement age.

As for pension fund management institutions organizing purpose pensions are:

A. Manage the pension funds to gain by doing a variety of investment activities.

2. To assist in and support the government program.



D. Pension plan before the enactment of legislation on the pension fund that is marked by two characteristics:

A. The pension program is managed by the foundation.

In Indonesia used to institute the foundation in a pension program that usually uses the term foundation or foundations and retirement pension, pension foundations such as Pertamina, the pension fund community bank foundation Indonesia.

2. Founder of the pension scheme set free.

In the pension fund held a lot of foundation that does not refer to arbeidersfondsen ordonnantie, the regulations that essentially regulates legal protection for the workers. That the fit only the dues to be paid participant, the participant's right, its effects and the settlement of disputes arising under pension rules while on the way the appointment of administrators who come from the participants, company pension, the right to submit complaints, opinions, and suggestions are not in muatnya.

So that the government lost its function in overseeing the pension fund pengelolahan foundation. Should the government intervene in the regulation of pension mendapata pengesahaan finance minister, the founder of freedom in making retirement program can be restricted.





E. Pension plan after the enactment of pension laws.

With the enactment of the law No. 11 in 1992, which boosted PP. 1992 and Government Regulation No. 76. 77, in Indonesia through Law No.. 7 year 1983 fund income tax tentng keuangaan No.250/KNK.00111985 minister's decision dated March 6, 1985 has been giving special treatment to the pension fund.

Per melakaukan restrictions of laws by setting the following matters:

Each establishment must obtain approval of pension funds to finance minister (Article 6 paragraph 2 of the pension legislation)

Held his one type of retirement program (Article 5, paragraph 1 of Government Regulation No.76 of 1992)



The law makes changes to the pension fund pengelolahan pension funds, such as:

A. The application of the type of pension funds and limits to pesertaan.

Statutory pension funds, there are two types of pension funds among others:

A. Employer pension fund (DPPK) DPPK the pension fund in nentuk by persons or entities that employ kariyawaan, as the founder. Pension plan for certain manfaaat or defined contribution pension plan for the benefit of part or as a participant sekuru kariyawaannay (Article 1 paragraph 2 penaiun fund statute). It is noticed in the DPPK procedures on PP No.76 of 1992 concerning regulations and padal 5 DPPK law No.11 of 1992 paragraph 1 from the point of its formation, management and reporting, merger or separation of pension funds, transfer of membership.

B. To a financial institution pension (Pension Fund) pension fund Pension Fund which was established by bankk or life insurance companies to menyelengggarakan defined contribution pension plans for individuals and good for the giver kariyawaan Genesis and the self that is separate from the pension fund for employers kariyawaan bank or insurance company (Article 1, paragraph 4 pelican pension legislation). Commercial bank or life insurance may carry two types of pension funds is an employer pension fund (DPPK) financial institutions and pension funds (Pension Fund) course with the terms of the order to carry out pension funds.



2. retirement should be managed in a transparent

reason was 1) to obtain a pension fund or the facilities of government tax breaks, 2) to ensure the wealth of pension funds managed separately from the wealth of the founder so that separate between private interests and the founders of pension fund participants.

Which pension fund administrator shall report the quality of financial and other reports to the finance minister, to founder, and participant directed pension fund pensiun.investasi and restricted the types of investments such as deposits, stocks, bonds and other securities, real estate, certificates Bank Indonesia (SBI).



f. pension payment system



according to the finance minister's decision of July 13 tabggak 343/KMK.017/1992 number 1998.dengan two formulas are available, namely the monthly formula and formula as well.

1) Program defined benefit pension (PPMP)

PMPP, that is a benefit pension plan established in the regulations of pension funds or retirement plans other than defined contribution pension plan.

* Calculated with the formula for the monthly PMPP as follows: Z

MP = MP X X FPE PDP.

Note:

MP = pension benefit

FPE = Factor award in percentage (%)

MK = Period of employment

PDP = basic retirement income last month or several months on average

Last.



2. Calculation using the formula as well as for the PPMP are:

MP = MK X X FP d PDP

FPD = decimal factor in the award

Retirement benefits are calculated using the formula or the formula as well as large monthly penghargaab factor per year working period shall not exceed 2.5% and total retirement benefits should not be 80 times the basic pension income.

Example of calculation of final earnings pension plan (pension plan last income) is: if your final salary before retirement is Rp.1.000.000 while 20-year tenure, then you will get a monthly pension as follows: 2.5% X 20 X 1000. 000 = 2.00.000.

A sample calculation aferage or career average earnings during the period of work, for example, the first job starting salary is Rp. Rp.1.000.000 50,000 and the last is. Then if the arithmetic average over the past 20 years amounted to Rp. 4.00.000 in the pension received per month: 2.5% X 20 XRP.400.000 = 2.00.000.





2) defined contribution retirement program (PPIP)

PPIP or retirement progaram berdasrkan to profit the defined contribution retirement plan with employer contributions only from, benefits of the PPIP and the development is smaller than Rp.36.000.000 can be paid at once.

· Calculations with bulanaan formula is:

IP = 3 x FPE X PDP

IP = pension contributions

FPE = pengahrgaan factor per year in percentage (%)

PDP = basic retirement income per year

· Calculation using the formula as well as for PPIP is:

3 X FPS X PDP

IP = pension contributions

FDP = decimal factor in the award year

PDP = basic retirement income per year



ü pembiyaan method of pension pay-as-you-go (Current Cost Method), the employer just pay for the benefit of a participant kariyawaan or so in need outside of the final salary

ü Methods funding system (Funding System)

a. Single Premium Fanding

b. Level Premium Fanding

The method of financing that is designed to avoid the increase in pension costs that occur at the age of the participants semakit when the current increases and salary increases a person peeserta be higher when participants more easily, and lower wages when old age of the participants.

G. Asa principles of pension funds

According to Law. 11-year retirement is based 1992program principles:

A. The principle of the separation of pension wealth from the wealth of the founders of legal entities

2. The principle of the system penyelenggaraaan pemendanaan

3. The principle of the guidance and supervision

4. The principle of postponement manfaaat

5. The principle of freedom to establish or not establish a pension fund

6. Opportunity to establish a pension fund



H. Function

Retirement program must be able to function in indendifikasikan clearly in order to achieve expected goals.

a. Insurance

If the work has not reached the royal kariayawan that in motioned teetapi kariyawaan the absence (a permanent disability that is no longer possible to work or die) kariyawaan can assure you that in pension, but the amount that the receipt is not full

b. Savings

Pay dues in a savings for the participants

c. Pension

The entire set of defined contribution participants and defined contribution employer serrta haisl processing will pay in the form of retirement benefits since the first month after reaching the retirement age for a lifetime.





I. Participants and the retirement age

Entitled to become a participant if it has not aged at least 18 years of his married and has memiliiki working period of at least one year to the founder or founding partners (Article 19 of law 12 of 1992)

Age pension or other types of retirement, can be categorized into four:

a. Normal retirement (Normalretirement) ialahusia lowest when kariyawaan eligible to retire without the consent of the employer and the number of full pension.

b. Retirement is brought forward (Early retirement) pension provision is to allow participants to accelerate the retirement pension for some reason.

Examples: Kariyawaan permanent disability

c. Delayed retirement (retirement defeired) is allowed kariyawaan mentally and physically still fit to continue work beyond the normal age.

d. Disability pension, disability and kariyawan which is considered no longer competent or able to perform his job is calculated based on the normal retirement benefit formula to admit that in his tenure as if it were up to the normal retirement age and pension is determined at the bersngkutan stated defects.

J. The role of pension funds

Can be seen in Act No.11 of 1992 as berijut:

a. In line with the nature of the national development

b. Pension fund is a means of raising funds to improve public participation.

c. Pension funds can also increase motivation and thus increase his keetenanan work productivity.

d. Can help boost economic growth and employment.





K. The weakness of the pension plan

ü Prior to Law No.11 of 1992 the livelihoods of service done by the foundation's retirement pension (YDP).

ü Security old age, prosperity kariyawan guarantees, insurance will be undertaken through various institutions such as savings and social insurance servants (TASPENT), hours of labor socially dominant (JOM SOSTEK) that is given through the foundation of much of the supposed benefits of the participants received , in because there is no ketentuanyang YDP set to guarantee human rights obligations of the organizers of the dna of the pension plan and in its processing, YDP is still much less professional.

ü Many infestations are not quickly produced.

ü Referral infestation is less clear and less consistent.

ü Referral administration in less well prepared.



L. Pension fund excellence

Ø Management of the point should be professional, loyal (Loyal), honest, and able to plan and think long term.

Ø In accordance with Law No.11 of 1992, and retired in the release of income tax so that participants can enjoy the retirement benefits of at least 15% higher than the benefits of the Traffic program.

Ø To reduce the risk of death / accident of the participant

Ø retirement benefits can be enjoyed on a regular basis over a lifetime monthly

Ø pension funds can have an integrated three functions, namely savings, insurance,

Ø And pensiun.dapat done by way of cooperation between the three institutions (perbankkan, life insurance companies and pension funds.



M. legal aspects of pension funds

1.perbuatan prohibited

Ø Deeds or mortgages memijamkan pension wealth as collateral for a loan.

Ø The act established the DPPK, Pension Fund, the finance minister without approval.

Ø Conducting transactions involving pension wealth as opposed to the pension provisions of the Law

2.pelaku pension funds follow

Ø People who set up as an employer pension fund without the approval of finance ministers.

Ø People who are told to do.

Ø Employees or employee pension funds that deviate from the regulation of pension funds for example, was told to pay money from pension funds.

N. classification and pension acts of criminal sanctions

Ø Classification of crimes and criminal offenses

Ø Sanction maximum prison sentence of five years in prison and a maximum fine of five billion rupiah (Article 56 paragraph 1, Article 57 and Article 58)

Ø Article 59 The threat of crime is a maximum of six years in prison and a maximum fine of six billion dollars.

C. dissolution of pension funds

Can be done based on the following matters:

Ø Demand founder of the pension fund to finance ministers (Article 33 paragraph 1 Law on pension funds)

Ø Disbanded by the Minister of Finance if it does not fulfill its obligations to participants, retirees and other parties are entitled.

O Cessation of assessed dues may jeopardize the financial situation of pension funds (article 33 paragraph 2 of the pension fund)

Ø In the case of pension funds dispersed, pension funds should be dissolved (article 33 paragraph 3 Law on pension funds.

In dissolution, the liquidator appointed finance minister that the pension fund administrator or other public pension funds such as accountants and actuaries, because they know a lot about the aspects that need to be resolved through the process of liquidation.