Mandiri Taspen's Strategy to Face Demographic Shift and Surge in Elderly Population by 2045

PT Bank Mandiri Taspen, known as Bank Mantap, predicts a surge in Indonesia’s elderly population by 2045, with numbers potentially reaching 70 million people. Bank Mantap President Director Panji Irawan explained that this is due to a demographic shift towards an ageing society, which will create different financial service needs compared to today. He noted that the current senior citizen population stands at around 35 million, equivalent to 12.3 percent of Indonesia’s total population. “That number is expected to increase to around 50 million by 2030, and even surge to 60-70 million by 2045,” Panji said during a media gathering in the Ubud area, Bali, on Saturday. This backdrop has prompted Bank Mandiri Taspen, as a bank specifically serving the elderly community, to prepare strategies and an ecosystem to cater to these conditions. “Because stakeholders wanted a bank under the auspices of a state-owned bank, a government-owned bank, that specifically handles senior citizens, and that is us,” he stated. According to Panji, the national banking ecosystem must begin preparing for this demographic change. The financial service needs of the elderly will not only involve pension credit distribution but will also encompass various services supporting their quality of life after retirement. Panji confirmed that Bank Mandiri Taspen is responding with digital service development, so pensioners no longer need to visit branch offices for authentication before fund disbursement. “Through the Movin by Bank Mandiri Taspen application, we are trying to simplify that process,” Panji said. Beyond service digitalisation, the bank is also building an ecosystem for senior customers through cooperation with hospitals and health insurance providers, as well as developing new financial products tailored to their needs. Bank Mantap is also studying various similar service models globally, which are being adapted to domestic regulatory requirements for integration, including through digital channels.