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BPJS TK ready to invest assets for workers
The Workersâ Social Security Management Agency (BPJS TK), which has so far collected Rp 180 trillion from workers and their employers while running four occupational social security programs, is ready to invest up to 50 percent of its assets to develop projects that would benefit workers nationwide
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he Workers' Social Security Management Agency (BPJS TK), which has so far collected Rp 180 trillion from workers and their employers while running four occupational social security programs, is ready to invest up to 50 percent of its assets to develop projects that would benefit workers nationwide.
The BPJS TK's investment director, Jeffri M. Manullang, said the non-profit agency would have no substantial problems allocating a bigger part of its assets to finance housing projects or other activities aimed at improving workers' social welfare, provided the government passed an umbrella law mandating the agency to do so.
'The BPJS TK is ready to comply with the President's instruction and plan to place a bigger part of its assets in economic activities aimed at improving workers' social welfare,' he told The Jakarta Post here on Tuesday.
In opening the national congress of the Confederation of Indonesian Prosperous Labor Union (KSBSI) in Pondok Gede, East Jakarta, on Monday, President Joko 'Jokowi' Widodo criticized the BPJS TK's investment policy, which has required the agency to disburse only 5 percent of its assets to labor housing projects and put a bigger part of its assets into financial institutions and capital markets. The President vowed to revise the agency's investment policy to allow it to give more contributions to workers.
Many labor unionists have encouraged the government and the BPJS TK to invest more assets in financing affordable housing projects and hospitals to help improve the social welfare of workers, especially millions of those who are underpaid and paid in accordance with the provincial minimum wages in industrial estates nationwide.
Jeffri said the agency, which had been formed out of state-owned PT Jamsostek, would be able to implement the President's instruction only if the law and relevant government regulations were revised.
'The President's instruction and plan to revise the 2004 national social security system law and 2011 social security provider law will win full political support from the House of Representatives because it is aimed at improving workers' social welfare,' he said.
However, he said that the President should make a good plan and follow it up.
'The BPJS TK could not comply with the presidential instruction and implement it without any umbrella law. The President should revise the existing regulations to allow the agency to implement his planning,' he said. (++++)
