kth.sePublications
Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
The Indonesian Pension System
Faculty of Economics and Business, University of Indonesia, Depok, Indonesia.
Faculty of Economics and Business, University of Indonesia, Depok, Indonesia.
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Real Estate Business and Financial Systems.ORCID iD: 0000-0003-1287-8411
2022 (English)In: International Comparison of Pension Systems: An Investigation from Consumers’ Viewpoint / [ed] Hongmu Lee, Gianni Nicolini, Man Cho, Springer Nature , 2022, p. 357-378Chapter in book (Other academic)
Abstract [en]

Indonesia is the fourth most populous country in the world, with a population of 273.5 million in 2020. Approximately 14.4% of Indonesia’s population is in the elderly age group and 8.4% of the total population is in the retirement age group. The current pension system in Indonesia is classified into two major categories: mandatory and voluntary. The mandatory pension fund provider consists of three institutions: PT Taspen (Persero) or Taspen hereafter, PT Asabri (Persero) or Asabri hereafter, and BPJS Ketenagakerjaan. The voluntary pension scheme providers consist of two types, namely, Employer Pension Funds (DPPK) and Financial Institution Pension Funds. (DPLK). There are currently no alternative pension-like programs, such as reverse mortgages, in Indonesia. However, there are some challenges faced by the Indonesian pension system. A low participation rate remains one of the biggest challenges faced by BPJS Ketenagakerjaan, and Indonesia’s retirement scheme ranked 30th among 39 countries in the Mercer CFA Institute Global Pension Index in 2020. In addition, the Indonesian government also needs to review the regulation that allows BPJS Ketenagakerjaan’s participants to redeem retirement savings prior to retirement.

Place, publisher, year, edition, pages
Springer Nature , 2022. p. 357-378
Series
Contributions to Management Science
National Category
Economics
Identifiers
URN: urn:nbn:se:kth:diva-329093DOI: 10.1007/978-981-19-6446-6_11Scopus ID: 2-s2.0-85143519750OAI: oai:DiVA.org:kth-329093DiVA, id: diva2:1768464
Note

QC 20230615

Available from: 2023-06-15 Created: 2023-06-15 Last updated: 2023-06-15Bibliographically approved

Open Access in DiVA

No full text in DiVA

Other links

Publisher's full textScopus

Authority records

Faradynawati, Ida Ayu Agung

Search in DiVA

By author/editor
Faradynawati, Ida Ayu Agung
By organisation
Real Estate Business and Financial Systems
Economics

Search outside of DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetric score

doi
urn-nbn
Total: 355 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf