Why Is The BPJS Ketenagakerjaan's Alleged Corruption Case Different From Jiwasraya And Asabri?
JAKARTA - The polemic of alleged corruption in the Manpower Social Security Administration (BPJS-TK) or BP Jamsostek is said to resemble the corruption case currently afflicting Jiwasraya and Asabri.
This is because there are indications of mismanagement in financial management and investment funds that have led to a decline in investment value (unrealized loss) of BPJS Ketenagakerjaan.
In response to this, financial economist Roy Sembel also said that the BPJS-TK unrealized loss could not be the same as the Jiwasraya case.
According to him, the BPJS-TK portfolio itself contains LQ45 stocks, where the unrealized loss follows the market's rising and falling conditions or is still inline. It is different when referring to the Jiwasraya context of unrealized loss because it contains fried stocks whose ups and downs are very volatile.
"In addition, the percentage of asset allocation for BPJS Ketenagakerjaan compared to Jiwasraya is far different.
The portfolio consisting of shares in BPJS Ketenagakerjaan is much smaller than the portion of Jiwasraya's stock portfolio, "he explained in a webinar on Tuesday, February 23.
Likewise, capital market legal observer Indra Safitri said investment losses were one of the market risks that investors would face. However, if we talk about unrealized loss, it is a book loss, not factual.
"So it must first be proven legally whether there is an illegal act that causes investment losses by using the capital market legal institutions," he explained.
Furthermore, he explained that if the potential losses or losses that have not been recorded enter the realm of detrimental to the state, then this article will be frightening to all parties who take care of investment.
In fact, continued Roy, if the loss is due to business risk alone, it certainly does not constitute a criminal domain. Profits and losses are common in business. Stocks rising, and stocks falling are also common in the stock market.
For information, at the end of December 2020 the BPJS-TK unrealized loss was known to be IDR 22.31 trillion. Then, in January 2021 the value decreased to IDR 14.42 trillion.
This means, it can be ascertained that the potential loss can go up and down depending on the stock price in the capital market which is the portfolio of BPJS-TK.
On the other hand, the contribution of income, including stocks and mutual funds, which are BPJS-TK investment options, produces relatively large figures. Based on the data collected, the gross investment returns for the last five years 2016-2020 amounted to IDR137.2 trillion and IDR33 trillion (mutual funds and stocks).
In general, BPJS-TK's unrealized loss is quite low if you look at the BPJS-TK gross investment returns from stocks and mutual funds.