80 Percent Investment In Tapera Management Funds Placed In Bonds

Illustration. (Photo: Doc. Antara)

JAKARTA - BP Tapera Commissioner Heru Pudyo Nugroho said Tapera management funds were placed in various investment instruments, but the majority of the investment portfolio or about 80 percent were placed in state bonds.

"From Bapertarum participants, we optimize it through a Collective Investment Contract (KIK), which is run by investment managers, and this portfolio is approximately 80 percent yes It is in bonds," Heru said during a press conference at the Presidential Staff Office Building in Jakarta, quoted from Antara, Saturday, June 1.

Not only state bonds, Tapera funds are also placed on corporate bonds. Heru ensured that Tapera funds would be placed in bond instruments with a minimum grade A rating.

Most of the portfolios are in AAA. So it's very secure, very safe. That's the risk appetite that we've made as guidance and we always evaluate investment managers every 3 months," he said.

Furthermore, he assessed that the return of the cost of savings along with the results of the economics of Tapera funds was still above the deposit interest rate.

"We are currently developing additional benefits or benefits in the form of referrals, such as special discounts with several merchants that we are currently exploring," said Heru.

On the same occasion, Director of the Investment Management System of the Directorate General of Treasury (DJPb) of the Ministry of Finance Saiful Islam said that the savings funds of Tapera participants were not included in the State Revenue and Expenditure Budget (APBN) scheme.

He said that people's housing savings funds (Tapera) would not be used for government spending in the state budget.

"The Tapera savings funds are not used for government activities and are not included in the posture of the state budget," said Saiful.

He explained that there have been three fund management schemes carried out by the Tapera Management Agency (BP) since this agency was officially formed as mandated by Law Number 4 of 2016 concerning Public Housing Savings.

First, working capital funds for BP Tapera provided by the Government through the 2018 State Budget worth IDR 2.5 trillion. These funds are used to meet the operational costs of various programs and BP Tapera investments.

Second, the transfer of funds from the Civil Servant Housing Savings Advisory Agency (Bapertarum-PNS) to BP Tapera. Bapertarum-PNS stopped operating due to the issuance of Law 4/2016 which was then continued by BP Tapera. The asset funds from Bapertarum-PNS were transferred to BP Tapera in 2018 amounting to Rp11.88 trillion.

"The participant funds of the former Civil Servant (ASN) ex-Bapertarum-PNS have not yet been continued because the Minister of Finance Regulation (PMK) has not been issued," explained Saiful.

Third, the Housing Financing Liquidity Facility (FLPP) funds in the APBN. The flow of FLPP funds is referred to as Government savings to BP Tapera. From 2010 to the first quarter of 2024, the total FLPP funds received by BP Tapera reached IDR 105.2 trillion.