The Government Is Advised To Combine Asabri With BP Jamsostek

Illustration. (Photo: Asabri)

JAKARTA - The government is advised to accelerate the joining of the Indonesian Armed Forces Social Insurance (Asabri) to the Manpower Social Security Administration (BP Jamsostek) to improve financial management and supervision within the social insurance agency.

Insurance observer Irvan Rahardjo said Asabri's failure to invest could only be resolved by the government, without going through the inter-business route. This is because Asabri is a social insurance company, not a private or commercial insurance company.

"Its status as a social insurance company also makes it impossible for Asabri to get strategic investors to cover funding needs," said Irvan in Jakarta, Tuesday, January 14.

So that, said Irvan, one of the options for solving the problem in Asabri is to accelerate the merger of Asabri with BP Jamsostek. This scheme is considered easier, because the merger of the two government agencies can be carried out without a liquidation process.

"It only needs a more detailed study, because there is already a road map for Asabri's entry to BP Jamsostek. So it only shortens the time from the previous plan in 2029," he said.

According to Irvan, Asabri's supervision must be tighter because the company manages a large premium fund. Moreover, Asabri's investment placement policy is also channeled into stock instruments that require objective management to mitigate the risk of impairment.

In the near future, in line with waiting for an audit by the Supreme Audit Agency (BPK), said Irvan, the government should be able to reveal the intellectual actors who made Asabri suffer losses due to failing in investment placements.

"At present, the intellectual actor must look for Asabri's problem and he must return the investment funds from Asabri. Like it or not, it has to be. Because the government cannot possibly provide a bailout (bailout) as mandated by the PPKSK Law. it's social insurance, "he said.

Previously, the Coordinating Minister for Political, Legal and Security Affairs Mahfud MD said there were allegations of corruption in Asabri of more than Rp 10 trillion. Mahfud wants this matter to be processed legally so that the truth and clarity of the case of the Indonesian National Armed Forces (TNI) pension fund is revealed.

Moreover, there is money for soldiers and soldiers who have served in Asabri. "Maybe no less fantastic than the Jiwasraya case, over Rp 10 trillion," said Mahfud in Jakarta, last weekend.

As with the problem at PT Asuransi Jiwasraya Persero, Asabri also placed an investment portfolio in stocks whose prices fell, resulting in a drastic depreciation of the value of the company's assets.

Deputy Minister of BUMN Kartika Wirjoatmojo said that his ministry is still working with the Financial Audit Agency (BPK) to study the root causes of investment failure and the value of losses suffered by Asabri.

"We don't know yet. We just want to check what happened, and how much it lost," he said.