Home Finance Taspen Claim Ready to Manage Pension Fund with New Civil Servant Salary...

Taspen Claim Ready to Manage Pension Fund with New Civil Servant Salary Scheme

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Jakarta -PT Taspen (Persero) is involved in the formulation of pension payments with a fully-funded scheme initiated by the Ministry of Administrative Reform and Bureaucratic Reform (Kemenpan RB).

Taspen General Director Iqbal Latanro claimed his side is ready to manage the pension fund under the new scheme.

“We are ready, because the government has a scheme, the premium is increased to obtain higher benefits, I think that is natural,” said Iqbal in Jakarta, Tuesday (27/3/2018).

According to him, the change in the pension payment scheme has little effect on Taspen’s performance, in addition to the managed fund that will increase.

“Our managed funds go up, God willing, our infrastructure can be done well,” he continued.

Known so far, civil servants pay contributions of 4.75 percent of salary every month as a pension fund. However, the amount of the contribution can not cover the size of retired civil servants who amounted to 75 percent of basic salaries, thus burdening the state budget.

The fully-funded scheme initiated by the government is expected to no longer burden the state budget because it is not based on the basic salary as a salary definition. The amount is calculated from the burden and responsibility and job risks.

Kemenpan RB plans to implement the system this year for newly received civil servants. As for civil servants who have long worked, will be applied two payment schemes.

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