Jakarta (ANTARA) \u2013 State pension fund PT Taspen (Persero) said plans\nto distribute pension payments through cooperatives must take account of\nregulatory and technological readiness, as well as payment verification\nand accountability mechanisms.<\/p>\n
Taspen Corporate Secretary Henra said the company was, in principle,\nready to comply with government policy on changes to pension payment\narrangements. However, payment institutions would have to meet a number\nof requirements.<\/p>\n
\u201cThe regulations do not yet provide for this. The government may make\nchanges later. Ultimately, as the operator or distributor, we follow\ngovernment policy,\u201d he said at a media briefing in Jakarta on\nWednesday.<\/p>\n
He explained that current rules set out several criteria for pension\npayment institutions, including service-network availability,\ncertification and system-security standards.<\/p>\n
Technological readiness is also a concern, he said, as pension\npayments are currently integrated with the banking system through a\nhost-to-host mechanism.<\/p>\n
The proposed cooperative-based arrangement has not yet been set out\nin detail, including whether it would use a dedicated digital\napplication or involve partnerships with banks.<\/p>\n
Taspen also stressed that pension payments involve more than\ntransferring funds to recipients: they require verification of\nrecipients\u2019 eligibility and accountability for any overpayments.<\/p>\n
The operator, a role currently performed by Taspen, must ensure\nrecipients continue to meet the requirements, including those relating\nto marital status and whether they are still alive.<\/p>\n
If payments are made to people who are no longer entitled to receive\nthem, the money must be recovered and returned to the state\ntreasury.<\/p>\n
The Co-operatives Ministry had earlier announced plans to enable\ncooperatives to become partners in paying civil servants\u2019 salaries and\npensions, alongside providers such as state-owned postal company PT Pos\nIndonesia and banks.<\/p>\n
After a limited coordination meeting on Merah Putih Village\/Urban\nWard Cooperatives (KDKMP) in Jakarta on Wednesday, Co-operatives\nMinister Ferry Juliantono said a proposal for the plan had been\nsubmitted to the Finance Ministry.<\/p>\n
He said funding for the payments was being prepared, but gave no\ndetailed figures or explanation of the payment mechanism.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/taspen-paying-pensions-through-cooperatives-requires-system-readiness-1791971542", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }