Minister Of PUPR Ensures Tapera Contributions Are Not Lost Money, There Is Old Age Guarantee

Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono in Jakarta, Tuesday (28/5/2024) (ANTARA/Muzdaffar Fauzan)

JAKARTA - Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono said that the paid-up Public Housing Savings (Tapera) no later than the 10th, not the money that was lost, but was used to finance members to buy houses.

"So it's not money lost, there's an old age guarantee, there's this, there's that, but it's not money lost," Basuki was quoted as saying by ANTARA, Tuesday, May 28.

He said, through this program, people who are registered can use it as an economic cushion to own a house. Furthermore, according to him, the Tapera program was formed five years ago, but in its initial implementation it was intended to form credibility first.

"So it didn't go directly in the first year. It's been five years, it's been a change of management, this started with the approval of the President," he said.

The regulation regarding Tapera was signed by President Jokowi on Monday (20/5) as stated in Government Regulation (PP) 21/2024 which is a change from PP 25/2020.

Classification of groups that are required to take part in this program are ASN, TNI, Polri, BUMN/BUMD workers, as well as private workers.

The regulation states that employers are obliged to pay participants' savings which are their obligations, and collect participants' savings from workers.

The amount of the contribution is set at 3 percent of the salary or wages for Workers Participants and income for Independent Workers Participants. For Workers Participants, it is borne together between the company and employees by 0.5 percent and 2.5 percent, respectively, while Independent Worker Participants bear overall savings.

Participants who are included in the Low-Income Community (MBR) category can get benefits in the form of Home Ownership Loans (KPR), Home Building Loans (KBR), and Home Renovation Loans (KRR) with long tenors of up to 30 years and fixed interest rates below market interest rates.

Funds raised from participants will be managed by BP Tapera as savings to be returned to the participants.