Another Investment Manager Follows Sinarmas AM into DPLK Business

JAKARTA – The Financial Services Authority (OJK) has revealed that one investment manager (MI) is currently going through the licensing process to establish a Financial Institution Pension Fund (DPLK). If the licence is issued, the entity will become the second investment manager to enter the DPLK business after Sinarmas Asset Management (Sinarmas AM).

Investment managers may establish a DPLK under OJK Regulation (POJK) Number 35 of 2024 on the Licensing and Institutional Aspects of Pension Funds, which came into force three months after its promulgation on 23 December 2024.

Ogi Prastomiyono, Chief Executive of Insurance, Guarantee and Pension Fund Supervision (PPDP) at OJK, said that to date only one DPLK has been established by an investment manager, namely the DPLK of Sinarmas Asset Management.

“In addition, there is currently one application for the establishment of a DPLK by an investment manager which is still in the licensing process at OJK,” Ogi said in a written response to journalists, quoted on Wednesday (29/7/2026).

Ogi explained that few investment managers have entered the DPLK business because administering a pension fund carries greater complexity than managing mutual funds. Beyond capital adequacy and governance readiness, a DPLK provider must also have a sound operational system.

“Unlike mutual fund management, which is investment-oriented, administering a DPLK also encompasses long-term participant administration, member services, pension benefit payments, and the fulfilment of reporting obligations to the regulator,” Ogi explained.

According to him, the readiness of information systems, human resources, and operational infrastructure are key factors before an investment manager enters the DPLK business.

OJK welcomes the addition of more players entering the DPLK industry. The regulator hopes the presence of more providers can drive product innovation, broaden pension programme options for the public, and raise the penetration of voluntary pension funds in Indonesia.

Nevertheless, OJK emphasised that the development of the DPLK industry must continue to uphold the principles of prudence and participant protection.

“OJK welcomes the addition of players in the DPLK industry, as it is expected to increase product innovation, expand choices for the public, and encourage greater penetration of voluntary pension programmes in Indonesia, whilst continuing to prioritise the principles of prudence and participant protection,” Ogi concluded.