President director of the pension insurance company, A.N.S. Kosasih, said that this trust has been the result of the company recording an increase in investment returns (yield on investment/YoI) of 27.7 percent on average — higher than the industry level — in the past five years.
"We are grateful to be able to achieve performance on par with pension fund managers in Asian countries so that we can be trusted as chair of ACSPA and host of ACSPF," Kosasih said in a statement released in Jakarta on Monday.
The company's positive performance is a manifestation of its commitment to implementing good corporate governance (GCG).
The company's performance has been audited periodically by the Audit Board of Indonesia (BPK) for the past five years and there have been no material findings related to its investments or operations.
In implementing investments and managing existing programs, Taspen follows the rules prescribed by the Ministry of Finance and the Financial Services Authority (OJK).
It also provides investment fund management reports to the Ministry of State-Owned Enterprises, the Ministry of Finance, and the OJK periodically.
Management of investment is one of the important agendas discussed with all ACSPA members at ACSPF activities, Kosasih said.
In its investment strategy, Taspen applies the PAHALA (ensure safe, result, reliable, liquid, and anticipatory) principle, he added.
As per the principle, investment must always take into account the level of risk (safety) and ensure that investments produce optimal yields/returns (results), the instruments used are found appropriate (reliable) through analysis, investment instruments are easy to disburse (liquid), and investment asset allocation takes the latest (anticipatory) market conditions into account.
Under this investment strategy, 60 percent or most of Taspen's managed funds as of June 2023 have been invested in government bonds, 16 percent in deposits, 9 percent in corporate bonds, 7 percent in mutual funds, 4 percent in shares, 2 percent in medium-term debt securities, and 2 percent in other instruments.
Other instruments include direct investments, associates, property, and asset-backed securities.
"Taspen is committed to always being trustworthy in managing the funds of ASN participants and retirees by increasing business productivity and efficiency as a form of accountability to participants and all stakeholders," Kosasih said.
Taspen has continued to make improvements and get closer to participants through its 57 branch offices, 45 paid partners, as well as more than 17 thousand physical service points and more than 3 million digital service points.
Currently, Taspen serves 3.72 million active state civil servants (ASN) and 3.03 million retired ASNs across Indonesia.
Translator: Imamatul Silfia, Cindy Frishanti Octavia
Editor: Azis Kurmala
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