Questioning Jamsostek

Questioning Jamsostek

From Kompas

The money gathered by PT Jamsostek (state social security
provider) belongs to employees/workers and the members of its
social security programs. The actual amount of money managed by
Jamsostek stands at trillions of rupiah.

As deductions from workers' salaries are paid into the fund on
a monthly basis, the money should be disbursable whenever the
worker needs it, regardless of whether he is retiring or has been
dismissed.

Jamsostek garners profits on the investments in which it has
placed this money, but it is far from clear whether the money is
being properly managed. For instance, what about the money
invested in Bank Global and other questionable places?

Government Regulation No.14/1993 provides that disbursement
may be made at the discretion of the authorities. However, it is
debatable whether this helps guarantee the fulfillment of
workers' needs when they grow old.

As Jamsostek only manages money belonging to workers, this
money should be made available whenever it is needed without
restriction. If the regulation prevents workers reclaiming their
own money when they need it most, it should be amended.

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