Tighten Pension Fund Supervision, Ministry Of SOEs Involves The Board Of Commissioners

Illustration. (Photo: Doc. Antara)

JAKARTA - The Ministry of State-Owned Enterprises (BUMN) has tightened supervision of pension fund investment (dapen). This is because 65 percent of SOEs are currently problematic and can threaten the welfare of their retirees.

Special Staff to the Minister of SOEs Arya Sinulingga said that until now the Ministry is still waiting for the results of an audit from the Corruption Eradication Commission (KPK) regarding the BUMN pension fund.

Therefore, Arya admits that he has not been able to reveal which state-owned companies have problematic pension funds.

"It was yesterday, Mr. Erick explained (in the DPR). You already know the schedule. If it's outside, you can't ask for progress. It's called an audit of all processes, you can't be careless too," he said when met by the Ministry of SOEs in Jakarta, Friday, February 17.

While waiting for the results of the audit, said Arya, the Ministry made improvements to the management of the company's pension funds. One of them involved the Board of Directors and Commissioners in making decisions on pension funds.

"Actually GCG. That's why we propose that every time there is an investment, there is involvement from the BOD level in the BUMN. For example, if Telkom is the Director of Finance and Director of HC Telkom is involved in the decision process for where the investment funds go," he said.

Later, continued Arya, the supervision of BUMN pension funds will also be expanded to the level of the Commissioner. Arya said that the supervision to the commissioner level had only been carried out this time.

The supervision is broad, it will also be reported to the commissioner of the BUMN concerned. This has happened in Telkom. They have given a report from the financial condition of dapen, "he said.

Regarding pension funds in collaboration with the Indonesia Financial Group (IFG), Arya explained that this is a business collaboration or B to B.

"If you invite them to cooperate, then cooperate with IFG, go ahead. But that doesn't mean all pension funds are given to IFG. Because from this on governance," he said.