Petition Refusing Liquid JHT At The Age Of Participants At 56 Years Signed By 330 Thousand Warganet, BPJS Employment Fund Management Turns Out To Reach Rp553.5 Trillion

Illustration. (Photo: Doc. Antara)

JAKARTA - Many parties reject the Regulation of the Minister of Manpower (Permenaker) Number 2 of 2022 concerning Procedures and Requirements for Payment of Old Age Security Benefits (JHT). At least this can be seen on the Change.org online petition platform, where as of Monday, February 14 at 08.40 WIB, more than 330,000 netizens have rejected the regulation signed by the Minister of Manpower Ida Fauziyah.

The netizen's refusal in Article 3. It is written that the JHT benefits will be given to BPJS Employment (BP Jamsostek) participants aged 56 years.

"The benefits of JHT for Participants who reach retirement age as referred to in Article 2 letter a are given to participants when they reach the age of 56 years," the latest Permenaker wrote.

So how much money is actually there that is managed by BPJS Employment aka BP Jamsostek? Quoting kontan.co.id, the total investment funds managed by BP Jamsostek reached Rp553.5 trillion until the end of 2021.

This figure grew 13.6 percent compared to the position at the end of 2020. This achievement also exceeded 2 percent of the 2021 funding target of IDR 542.4 trillion.

The investment return in 2021 will reach 6.95 percent, higher than the target of 6.55 percent. The BP Jamsostek Board of Directors explained that this achievement was in the midst of low deposit interest rates throughout 2021.

The majority of the funds, 63 percent, were placed in debt securities. Then 19 percent in deposits, 11 percent in stocks, 6.5 percent in mutual funds, and the remaining 0.5 percent are direct investments.

Now, the funds for JHT workers if you look at the BP Jamsostek audit financial reports, in 2020 the total JHT investment funds are IDR 340.75 trillion. An increase compared to 2019 of IDR 312.56 trillion.

When compared to BP Jamsostek's total investment in 2020 which amounted to IDR 487 trillion, the portion of JHT investment funds almost reached 70 percent.

There is no report on how much JHT funds will be in 2021. But with the same portion as in 2020, which is 70 percent, then JHT investment funds in 2021 will be around Rp. 387.45 trillion.