Dana Pensiun

• This is the one form on the list nobody picks in order to trade: it is the legal vehicle for a pension programme, not for a business.
• The two kinds differ by founder. An employer fund is set up by an employer for its own staff; a financial-institution fund is run by a bank or life insurer and is open to individuals.
• The fund’s assets are not the founder’s. They may not be pledged and they stay out of the founder’s bankruptcy estate.
• It becomes a legal entity through the financial regulator’s approval of its pension rules, not through the Ministry of Law.

1. The founder passes a written decision to establish the fund and draws up its pension rules.
2. Appoint the management, the supervisory board, the asset custodian and — for a defined-benefit programme — an actuary.
3. File for approval with the financial regulator (OJK); the fund exists as a legal entity from that approval.
4. Register the entity’s tax number and meet the opening reporting obligations to the regulator.

• Periodic reporting and supervision continue with the regulator for the life of the programme.
• Assets are held by a separate custodian and invested within the permitted investment directives.
• A defined-benefit programme is valued by an actuary periodically to confirm it is adequately funded.
• Amendments to the pension rules also need the regulator’s approval; a founder’s decision alone is not enough.

This form is used when a pension programme needs a legal home of its own — not when a business needs an entity. A company that simply wants to offer staff a pension usually joins an existing financial-institution fund and establishes nothing.

• Law 11/1992 on Pension Funds
• Law 4/2023 on the Development and Strengthening of the Financial Sector

A summary of the rules in force, not legal advice. Rules and thresholds change — check with the relevant authority before you register.

Micro, small, medium, large: the rupiah thresholds and what changes in each class.