OJK Still Waiting For The Process Of Moving The Jiwasraya DPPK Portfolio

Photo: Doc. Antara

JAKARTA - The Chief Executive of the Insurance, Guarantee and Pension Fund (PPDP) of the Financial Services Authority (OJK) Ogi Prastomiyono stated that his party is still waiting for the process related to the transfer of the Jiwasraya Employment Pension Fund (DPPK) portfolio.

He stated that the new Jiwasraya Financial Institutions Pension Fund portfolio (DPLK) had been transferred to PT Asuransi Jiwa IFG (IFG Life) by forming the IFG Life DPLK.

"There are two (tiring pension funds), there is a DPPK, there is a DPLK. The DPLK has already made a house on IFG, IFG DPLK. We have given permission (for the transfer), right," said Ogi Prastomiyono, quoted by Antara, Wednesday, February 12.

He said that when Jiwasraya was dissolved, which was planned to be carried out this year, the Jiwasraya DPPK would also be disbanded, just like a number of other DPPK managers who had also been dissolved by the OJK.

"If the founder has disbanded, then the DPPK has disbanded. That portfolio can be (followed up with) various kinds (solutions). It can be transferred to other pension fund (managers), to DPLK, or others," he explained.

Ogi stated that so far the disbanded pension fund managers can fulfill their obligations to the participants.

"So far (so far) the obligations of the participants can be fulfilled, so God willing, there won't be much commotion if the pension funds," he said.

Meanwhile, regarding the regulation of cut loss policies or efforts to limit losses due to a decrease in investment value in pension funds programs related to state finances, such as pension funds managed by ASABRI and TASPEN, he stated that a Government Regulation would be drawn up regarding asset liabilities.

"Well, if there is a voluntary non-owner pension fund, it depends on the regulations (managers) for each pension fund. It's private, yes, it's a normal thing," added Ogi.

IFG Life President Director Budi Tampubolon when met after attending the Annual Meeting of the Financial Services Industry (PTIJK) in Jakarta, Tuesday (11/2), stated that the transfer of Jiwasraya customer portfolios to IFG Life had reached 99.9 percent, while the transfer of total assets reached 99.7 percent.

"Those who refuse (restructured the policy to IFG Life) are their rights, so everyone must respect it and Mr/Mrs. Jiwasraya customers who have not decided to move, yes, they are still customers of Jiwasraya, meaning that they follow the procedures in Jiwasraya," he said.

Jiwasraya's insurance is planned to be disbanded this year after experiencing default due to a corruption scandal that ensnared a number of former Jiwasraya directors and partner companies, to government institution officials.

The Attorney General's Office (AGO) has named a new suspect in the alleged corruption case of PT Asuransi Jiwasraya for the 2008-2018 period, namely the Director General of Budget at the Ministry of Finance Isa Rachmatarwata (IR) on Friday, February 7.

When the alleged corruption occurred, the suspect was serving as Head of the Insurance Bureau of the Capital Market Supervisory Agency and Financial Institutions (Bapepam-LK) for the 2006-2012 period.