The House of Representatives held a Public Hearing with the Jiwasraya Pensioners Association and the Management of the Pupuk Kaltim Pensioners Association (PP-PKT) on Monday, February 3, 2025, discussing the potential return of lifetime pension benefits originally managed by State insurance company PT Asuransi Jiwasraya.
In this meeting, PP-PKT reiterated their demands regarding the return of lifetime pension benefits affected by the Jiwasraya restructuring.
Jiwasraya has since 2021 been placed under the management of IFG Life, which has taken over the restructuring and management of Jiwasraya’s policies. This transition was initiated following government efforts to stabilize Jiwasraya, including a $1.5 billion injection to support the company.
State fertilizer company PT Pupuk Kaltim had previously followed up on this demand by requesting a legal opinion from the Junior Attorney General for Civil and State Administrative Affairs (JAMDATUN) of the Attorney General’s Office as the basis for the decision.
In the meeting, Member of House of Representatives Commission VI, Herman Khaeron, described the Jiwasraya case as a complex case and requires the right solution.
“I initiated the Jiwasraya Special Committee in 2019 due to the major problems that emerged. It was indeed very difficult at that time,” Herman said.
He emphasized that the DPR has supported the customers and pension fund managers who were affected from the start. Herman cited that in the Jiwasraya case, the affected companies were given the option to determine their own policies, but they still had to comply with the principles of Good Corporate Governance (GCG).
According to Herman, the policy regarding lifetime pension benefits for Pupuk Kaltim retirees is highly dependent on the decision of the Pupuk Indonesia board of directors as the holding company. He emphasized that every decision must be consulted with the Development Finance Comptroller (BPKP) and the Attorney General’s Office.
“If there has been a decision from the Attorney General’s Office that it may not be issued, then the company will certainly face obstacles in realizing the demands of retirees,” Herman said.
He also emphasized the importance of resolving this problem legally and in accordance with good corporate governance.
“As long as the measures taken are in accordance with the GCG principles, then it must be pursued with various legal fatwas, including from JAMDATUN,” he added.
