Caltex joins Principal

Caltex joins Principal

JAKARTA (JP): Approximately 5,000 employees of PT Caltex
Pacific Indonesia have joined Principal Indonesia's pension
program, Principal's managing director Doug Rasmussen said on
Tuesday.

Rasmussen said the entry of Caltex employees would further
increase its assets under management during the coming year.

He said Principal Indonesia was one of the top five pension
program providers based on assets under management which amounted
to Rp 137 billion (US$18.2 million), compared to Rp 4 billion at
the end of last year.

He said during the first eight months of this year the company
made new pension scheme sales which would produce deposits of
over Rp 144 billion during the next 12 months.

Principal Indonesia is a Indonesia-U.S. joint venture company
and a member of the Principal Financial Group, a diversified
financial services company with total assets under management
exceeding $84 billion. (cst)