OJK Targets 5 Percent Student Savings Growth In 2026

Rupiah (Photo: Antara)

JAKARTA - The Financial Services Authority (OJK) targets 5 percent growth in student savings (SimPel) by 2026

Chief Executive of the Behavior Supervisory of Financial, Education and Protection Business Actors of OJK Consumers, Friderica Widyasari Dewi said that this step was part of efforts to encourage financial literacy and inclusion from an early age.

"The target for students and students is both public schools and religious schools. What we might be able to increase is probably around 5 percent. Hopefully it can go up for the achievement of all of us," he said at a conference on the percentage of Indonesia's Leading Financial Literacy (Like It), Thursday, August 14.

Friderica emphasized that this program targets students from various educational backgrounds, and the habit of saving from an early age is an important foundation in building personal financial management skills.

"For our students, we do continue to do it. Because there are students who graduate to become students, the target is different again," he said.

Previously, Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar revealed that the value of Student Savings or savings owned by school-age children has now reached more than Rp32 trillion.

"If I may say, maybe the younger siblings are not aware that actually student savings are savings, namely savings given to school-age children, at this time it seems that they cannot be trusted, have reached a value of more than Rp32 trillion," he said.

He also added that this number was collected from nearly 59 million student savings owners, namely students throughout Indonesia.

"Rp32 trillion was indeed able to be collected because there were almost 59 million owners of savings or student savings. So 59 million Indonesian children already have savings, and of course including younger siblings here and if you look at the amount of Rp32 trillion, I think everything has its contents, although of course the value is not the same," he said.

Mahendra said that the funds in savings were used for various national development sectors, such as encouraging economic growth, creating jobs, and supporting the financing of micro, small and medium enterprises (MSMEs).

"So what the younger siblings contributed in the form of savings, then in turn gave added value and a big contribution to this nation," he concluded.