Indonesia government has issued an update related with amount of benefits and wage regulation for BPJS pension 2020.
Please see below for updated details of Jaminan Pensiun:
- Minimum Pension Benefits is Rp. 350,700.00 per month and maximum of Rp. 4,207,200.00 per month.
- The maximum wage as the basis for calculating the pension contributions amounted Rp.8,939,700.00
- This update on pension contribution shall take effect as of 1 March 2020.
- Pension Guarantee Program contribution rate:
|Effective date||Borne by employer||Borne by employees|
|Before 1 March 2020||2% up to max. IDR 170,248||1% up to max. IDR 85,124|
|1 March 2020 onwards||2% up to max. IDR 178,794||1% up to max. IDR 89,397|
- The above rates are applied to wages (basic salary and fixed allowances) up to a maximum of IDR 8,512,400 per month (before 1 March 2019) and IDR 8,939,700 per month (1 March 2020 onwards).
- The wages will adjust every year using a factor of 1 (one) plus previous year annual growth rate of gross domestic product.
- Payment due for BPJS Ketenagakerjaan are applied for all program (JK, JKK, JHT, JP/Pension Guarantee) by 15th of the following month.
Delays in payment dues by the Employer imposed a fine of 2% (two percent) for each month of delay, calculated from the contribution that should be paid by the Employer.