Jiwasraya Boss Reveals Potential For Retirement Fund Fraud Of IDR 257 Billion

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Asuransi Jiwasraya (Persero) or Jiwasraya is open to fraud or fraud in managing the Jiwasraya Employers' Pension Fund (DPPK), causing losses of up to Rp257 billion.

Jiwasraya's Director of Operations and Finance, Lutfi Rizal, said that the fraud case was the result of an audit conducted by the Financial and Development Supervisory Agency (BPKP) on December 31, 2024.

Furthermore, Lutfi said that the case that occurred at the Jiwasraya DPPK was the same as in Jiwasraya insurance. In addition, there is the investment management of the Jiwasraya DPPK which is not in accordance with the prudent realm of risk management.

"If we can say that we are mirroring Jiwasraya, an investigative audit has been conducted on December 31, 2024 by BPKP, there was a fraud of Rp. 257 billion. The perpetrators are the same as Jiwasraya, currently in prison," he said in a meeting with Commission VI of the DPR, Jakarta, Thursday, February 6.

According to Lutfi, the poor condition of the Jiwasraya DPPK has occurred from 2003 to 2012. He said that in that period every year there was a deficit from Rp701 million to Rp39 billion.

"Then what became odd was that in 2013 to 2018 the financial condition of the Jiwasraya DPPK was again positive," he said.

Based on the results of the investigation, Lutfi continued, that year there had been no recorded on the Indonesia Stock Exchange (IDX).

Furthermore, Lutfi said that the transaction was carried out by Jiwasraya perpetrators of corruption, namely Benny Tjokrosaputro, Heru Hidayat, and Joko Hartono Tirto.

"Furthermore, maybe we will see it after 2018 to 2019 is negative again. If we look at 2019 the Jiwasraya case has spread, and the perpetrators have begun to be prosecuted, so that the management of this investment does not manage it," he explained.