The Indonesian Manpower Social Security Agency (BPJS Ketenagakerjaan) has announced the adjustment on income cap to calculate the mandatory pension contribution (BPJS Pensiun) and the adjustment for pension benefit limit. These adjustments will be effectively applied starting March 2019.
Pension Contribution
The maximum income to calculate pension contribution (BPJS Pensiun) is adjusted from Rp 8,094,000 become Rp 8,512,400. The adjustment refers to the last year’s Gross Domestic Product growth at the level of 5.17%.
Pension Benefit Limit
The limit for the pension benefit that will be received by employees when they reach retirement age is adjusted in accordance to the inflation rate in previous year at the rate of 3.13%.
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