Taspen's 2025 Profit Surpasses Target, Boosted by Rp 9.87 Trillion Investment Returns
PT Taspen (Persero) successfully secured a net profit of Rp 1.04 trillion throughout 2025, buoyed by substantial investment returns that managed to cover the mismatch between contributions and claims.
President Director of PT Taspen, Rony Hanityo Aprianto, announced that the state-owned enterprise managing civil servant pension funds recorded a net profit of Rp 1.04 trillion in 2025. This realisation exceeded the company’s target, reaching 123.84 per cent. The achievement was contributed by the management of three main programmes: Old-Age Savings (THT), Work Accident Insurance (JKK), and Death Insurance (JKM).
Rony stated candidly that this positive performance was fully supported by investment returns reaching Rp 9.87 trillion in 2025. The high figure was inseparable from the optimal rate of return obtained from the company’s investment portfolio placements. “What helped Taspen’s bottom line remain positive was the investment returns. So, if we look at contributions of Rp 7.7 trillion and claims of Rp 14.9 trillion, they do not match. Thus, the saviour is the investment returns, which is why Taspen can still book a profit,” Rony said during a Hearing Meeting (RDP) with Commission VI of the Indonesian House of Representatives (DPR RI) on Wednesday (8/7).
Upon closer examination, Taspen’s management actually took a fairly conservative accounting approach. To mitigate future risks, the company deliberately allocated a significant impairment provision of Rp 1.82 trillion in 2025. This item served as a deduction from the net profit. The provision was made because a portion of Taspen’s investment portfolio is placed in corporate bonds of state-owned construction firms (BUMN Karya), which are currently facing challenging conditions. However, Rony emphasised that this impairment is flexible and not a permanent burden. “If the impaired bond matures, it can be reversed from an expense back into income. If there is a rating improvement, it can also be reversed. So, impairment does not stand as a burden forever,” he explained. He added that without this conservative option and the formation of impairment reserves, Taspen’s net profit for 2025 could have soared to Rp 2 trillion.
Compared to the previous year, Taspen’s financial report showed several shifts. Contributions and premiums fell 11.03 per cent year-on-year (YoY) from Rp 8.7 trillion in 2024 to Rp 7.74 trillion in 2025. Investment returns grew positively by 9.54 per cent YoY from Rp 9.01 trillion to Rp 9.87 trillion. Other income rose 8.14 per cent YoY from Rp 1.72 trillion to Rp 1.86 trillion. Claim expenses were reduced by 1.45 per cent YoY from Rp 15.12 trillion to Rp 14.90 trillion. Overall, net profit was corrected by 16.13 per cent YoY from Rp 1.24 trillion in 2024 to Rp 1.04 trillion in 2025.