OJK Targets Expansion of Pension Fund Membership in Informal Sector

The Financial Services Authority (OJK) is calling on the pension fund industry to develop programmes that can be joined by more informal workers in order to broaden public access to old-age protection. Chief Executive of Insurance, Guarantee and Pension Fund Supervision at OJK Ogi Prastomiyono said informal workers still face limited access to pension fund programmes because of the irregular nature of their income. “Informal workers pay contributions irregularly; their income is not fixed. If they have more money, they can pay. If not, they cannot,” Ogi said in Lombok, West Nusa Tenggara, on Thursday (27/8/2026).

Ogi said informal workers do not always come from low-income groups. The category also includes workers such as athletes, artists and self-employed individuals whose incomes fluctuate. He therefore argued that a more flexible pension fund scheme is needed so that informal workers can pay contributions when they have income. OJK is asking Financial Institution Pension Funds (DPLK) to develop services that allow this group to participate in pension programmes.

“So, they can pay when they are able to pay, perhaps by setting up an old-age programme. That is what has not yet taken off. We are encouraging DPLKs to have an application so that informal members of the public can participate,” he said.

In addition, Ogi said expanding membership is also important for formal workers who already have a company pension programme. They can still join an additional pension programme to increase the benefits they receive upon retirement. Ogi assessed that the pension benefits currently received by workers are not sufficient to maintain their level of welfare after retirement. Additional pension programmes therefore need to be developed. “When calculated, the average pension benefit for Indonesians is only 10 to 50 percent of their final income. The money is not enough,” he said.

OJK has made expanding membership, particularly in the informal sector, one of its focuses in developing the national pension fund industry. Based on the OJK roadmap, there remains significant potential for BPJS Ketenagakerjaan, DPLKs and Employer Pension Funds (DPPK) to expand membership in old-age protection programmes.

Meanwhile, OJK has opened the door for more industry players to establish DPLKs. In June 2026, OJK approved the establishment of DPLK Sinarmas Asset Management, the first DPLK founded by an investment manager. OJK believes the entry of investment managers can increase competition, innovation and expand pension programme membership. OJK recorded total pension fund assets of Rp 1,699.9 trillion as of July 2026, projected to grow by 9–11 percent annually in 2026.