BPJS Chief Highlights Benefit of High Insurance Premium

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  • Dirut PT Jamsostek Elvyn G. Masassya. TEMPO/Aditia Noviansyah

    Dirut PT Jamsostek Elvyn G. Masassya. TEMPO/Aditia Noviansyah

    TEMPO.CO, Jakarta - Elvyn G. Masassya, president director of the labor division of the Social Security Agency (Employment BPJS), said that any suggestion on the amount of the premium rate for its pension insurance program must take into account the benefits that will be received by the participants.

    In addition to the determining retirees' benefits, the value of premium will affect the Employment BPJS' longevity as an institution.

    "This is also related to how long we will be able to pay," he said during a visit to Tempo's editorial office, last week.

    According to Masasya, the BPJS and the Ministry of Manpower and Transmigration suggested a premium rate of eight percent, a figure which he claimed will allow the BPJS to operate until 2076.

    "[With that rate] we won't need injected funds from the government; we will be independent and we can continue paying [the benefits]," he said.

    He said that participants will enjoy monthly pensions after paying the premiums for 15 years. If there are participants who retire before their insurance comes due, he or she will receive the benefit all at once.