Jakarta (ANTARA) - The Old-age Insurance Program (JHT) will revert to its vital role of protection to old-age workers, with the emergence of the Job Loss Guarantee Program (JKP), Manpower Ministry's Manpower Social Security Director Retno Pratiwi stated.

Pratiwi noted that the JHT was earlier used to support laid-off workers, though currently, the program was diverted to the JKP until they found a new job.

"With the emergence of JKP, the JHT program will return to its initial function of offering protection to workers in their old age," Pratiwi explained when contacted by ANTARA on Wednesday.

In addition, Minister of Manpower Regulation (Permenaker) Number 2 of 2022 stipulates that JHT beneficiaries can withdraw their deposit once they turn 56 years of age in accordance with Law Number 40 of 2004 on the National Social Security System (SJSN) to provide protection in old age.

Apart from the JKP, several other programs initiated by the government can help workers affected by layoffs, one of which is the Independent Workers at the Ministry of Manpower, with the aim of helping workers become entrepreneurs.

With regard to JHT, Pratiwi reminded that workers can actually register themselves before they turned 56.

However, in order to withdraw a deposit in JHT, participants must at least become a member for a minimum of 10 years.

"Beneficiaries will be given 70 percent of their deposit. Some 30 percent will go to housing and 10 percent will go for other interests," Pratiwi explained.

Earlier, Minister of Manpower Ida Fauziyah had stipulated Permenaker Number 2 of 2022 on Procedures and Requirements for Payment of JHT Benefits.

One of the rules stated that JHT benefits can be withdrawn when the beneficiaries turned 56 years of age or when they had a disability before retirement or passed away. The regulation will take effect on May 4, 2022.

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Translator: Prisca Triferna V, Resinta S
Editor: Sri Haryati
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