You Must Know! This Is The Ministry Of Manpower's JHT Simulation: Salary Of IDR 4 Million, Layoffs For 30 Years, Can Get IDR 66 Million

Illustration. (Photo: Doc. Antara)

JAKARTA - The government through the Ministry of Manpower has stipulated the Minister of Manpower Regulation (Permenaker) Number 2 of 2022 concerning Procedures and Requirements for Payment of Old Age Security Benefits (JHT). Through this new rule, the JHT disbursement can only be made if the participant is 56 years old.

This new rule is different from the previous provisions contained in the Minister of Manpower Regulation No. 19 of 2015. In this regulation, participants who stop working can fully withdraw their JHT funds without having to wait for 56 years of age.

The Ministry of Manpower has given a transition period until May 3, 2022. This means that starting May 4, the new rules will take effect. So, if the participant wants to fully disburse the JHT benefits, it can be done before the new rules take effect.

Then, how is the calculation of benefits according to the new regulations? Here's the simulation:

Launching the official Instagram belonging to the Ministry of Manpower @kemnaker, it was explained that Koko is a worker or laborer who works at PT A with a reported wage to BPJS Ketenagakerjaan of IDR 4 million with a membership period of 5 years. Then, Koko experienced termination of employment or layoffs at the age of 30 years. So, the benefits of JHT that will be received by Koko are:

Permenaker Number 19 of 2015

- JHT Contribution: 5.7 percent × IDR 4,000,000 = IDR 228,000- Total contribution: 60 months x IDR 228,000 = IDR 13,680,000- 5 years development (approximately 5.7 percent per year) = IDR 2,120,310- Total benefit = IDR 15,800,310

Permenaker No. 2 of 2022

The JHT benefit is Rp. 15,800,310 if it is not disbursed until the age of 56 years, the benefit to be received is: Rp. 15,800,310 × 5.7 percent x 26 years = Rp. 66,775,213 (without paying further fees).

"If Koko does not pay additional fees, then based on Permenaker Number 2 of 2022, the benefits received are much greater," the Ministry of Manpower wrote, quoted on Friday, February 18.

Regulations are made based on the recommendations of relevant stakeholders

As previously reported, the Minister of Manpower (Menaker) Ida Fauziyah said that the Minister of Manpower Regulation Number 2 of 2022 regarding the procedures and requirements for paying old age insurance benefits (JHT) was made based on recommendations from relevant stakeholders.

Ida said the relevant stakeholders, among others, submitted recommendations regarding these provisions in a hearing meeting with Commission IX of the DPR RI on September 28, 2021.

The Minister of Manpower said that in the meeting the relevant stakeholders encouraged the government to establish a policy to restore the Old Age Security Program (JHT) in accordance with its function as mandated by Law no. 40 of 2004 concerning the National Social Security System.

Ida also explained that the regulation regarding the payment of JHT benefits was the result of the main ideas of the National Tripartite Institution Working Body on November 18, 2021 in the discussion forum on amendments to the Regulation of the Minister of Manpower Number 19 of 2015 concerning Procedures and Requirements for Payment of Old Age Security Benefits.

The forum recommended a return to the philosophy of implementing the JHT Program as a long-term program to provide certainty of the availability of a number of funds for workers when they are no longer productive, namely when they enter retirement, experience permanent total disability, or die.

Ida explained, although JHT is intended to protect workers in old age, when entering retirement, or when they die, or experience permanent total disability, according to Law No. At a certain time, program participants who need it can claim part of the JHT benefits.

"Based on PP 46/2015, claims for some of the JHT benefits can be made if the participant has had a membership period of at least 10 years in the JHT program," Ida said in a press release in Jakarta, reported by Antara, Thursday, February 17.

In this case, program participants can take a maximum of 30 percent of the JHT benefits for home ownership or a maximum of 10 percent of the JHT benefits for other purposes in preparation for retirement.