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Jakarta Post

Workers threaten to pull funds from Jamsostek over insurance bill

  • Ridwan Max Sijabat

    The Jakarta Post

Jakarta   /   Sat, October 15 2011   /  08:08 am

A group of workers has opposed the bill on social security and insurance that mandates the merger of the existing four social security providers, saying they would remove their funds from state-owned PT Jamsostek if the bill became a law.

Leaders of three labor union confederations and 18 federations said in a joint press conference in Jakarta on Friday that almost 10 million workers registered with Jamsostek would take their retirement (JHT) funds totaling Rp 10.5 trillion (US$1.19 billion), if the House and government agreed to transform Jamsostek, PT Askes, PT Taspen and PT Asabri into the what the bill says are short-term and long-term social security providers.

“Workers have the right to take their JHT funds because they are kept in personal accounts in Jamsostek and the government and the House must be held responsible for any economic disturbances triggered by the ...