Confederate President Labor union Indonesia (KSPI) Said Iqbal revealed a new policy that regulates the disbursement of Old Age Security benefits (JHT) after the BPJS Employment participant was 56 years old, it caused various speculations among workers.
One of them, Said said, was that there was no JHT funds. No doubt, the government regulates that funds to ensure the welfare of employees or workers in old age can only be disbursed in full at the age of 56 years.
“So speculation arose internally, almost all workers, maybe the money doesn’t exist, if it’s always there why should the payment be postponed for up to 56 years,” he said at a press conference, Tuesday (14/2).
He said JHT itself comes from employee contributions and related companies. That is, there is no government money there.
JHT is a social savings from workers so that it can be taken when the employee stops working. Including if they retire early.
Separately, a public policy expert and CEO of the Narration Institute Achmad Nur Hidayat estimates that changes to the rules for seeking JHT could hold back around Rp. 387.45 trillion in worker contributions at BPJS Ketenagakerjaan.
Not surprisingly, it is suspected that the policy changes were carried out to overcome the government’s limited liquidity or other investments would be made for infrastructure projects.
“The accusation is justified because the 2021 APBN deficit reaches IDR 787 trillion and BI is no longer allowed to buy SUN to cover the APBN deficit,” he said in an official statement.
According to Achman’s records, the investment funds managed by BPJS Jamsostek until the end of 2021 will reach IDR 553.5 trillion. The majority of these funds, namely 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. If the JHT investment funds (70 percent) of IDR 387.45 trillion can be managed until the workers are 56 years old, the government has large enough liquid funds to be utilized.
“The problem is that these funds belong to workers, who they also need when they lose their jobs and when the pandemic has not subsided,” he said.
Previously, the Minister of Manpower, Ida Fauziyah, issued the Minister of Manpower Regulation No. 2 of 2022 which stipulates that JHT can only be disbursed when entering retirement age or 56 years.
Another requirement for disbursement is that the JHT participant dies or is permanently disabled. The regulation drew protests from the public and the trade unions.
In the previous regulation, namely Permenaker Number 19 of 2015, JHT can be disbursed to participants who resign and paid in cash after passing a waiting period of 1 month starting from the date of the resignation letter from the company.
(mrh/sfr)
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