Dismissed Workers in Malang Claim Retirement Funds

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  • Pencairan Jaminan Hari Tua BPJS Dipersoalkan

    Pencairan Jaminan Hari Tua BPJS Dipersoalkan

    TEMPO.CO, Malang - Over the last eight months about 13,000 workers of companies in the sector of cigarette manufacturing had been laid off and claimed their Retirement funds (JHT).

    “To this date, the claim [of JHT funds] has reached Rp 125 billion (US$9 million),” Malang Workers Social Security Agency (BPJS Ketenagakerjaan) head Sri Subekti said on Friday, September 11, 2015.

    Sri added that the amount of old-age benefit claim increased compared to last year. According to Sri, the monthly average claim made by laid off workers amounts to Rp 10 billion – Rp 15 billion (US$715,000 – US$1 million).

    The BPJS Ketenagakerjaan in Malang served about 120 workers lining up to claim their JHT funds. Sri said that the huge amount of claim would not disrupt the agency’s balance sheet due to the availability of backup funds.

    Currently, the number of BPJS Ketenagakerjaan participants in Malang reached 117,000 people, averagely filing claims of Rp 5 million – Rp 20 million (US$347 – US$1,428). Sri called on participants to claim the funds based on the urgency level. Sri explained that the funds would provide a return of investment at the rate of 8.9 percent a year.