Regulatory AlertsOJK Circular 22/SEOJK.05/2023 on Monthly Financial Reports of Social Security Implementing Agencies and Social Security Funds
The Financial Services Authority (OJK) issued Circular 22/SEOJK.05/2023 to standardize the format and supervision of monthly financial reports for Social Security Implementing Agencies (BPJS) and Social Security Funds (DJS). The regulation mandates that these reports, covering health, old age, pension, work accident, death, and job loss programs, be submitted online via the OJK data communication network within ten working days following the end of each month. This circular, effective January 1, 2024, revokes the previous 2014 circular and establishes specific fallback procedures for offline submission in cases of technical failure or force majeure.
Regulation / Regulation Search / Monthly Financial Reports of Social Security Implementing Agencies and Monthly Financial Reports of Social Security Funds
Sector: IKNB
Sub-Sector: Other Regulations
Regulation Type: OJK Circular
Regulation Number: 22/SEOJK.05/2023
Effective Date: 1/1/2024
Appendix 1 SEOJK 22-SEOJK.05-2023. Monthly Financial Reports of Social Security Implementing Agencies and Monthly Financial Reports of Social Security Funds.pdf Abstract 22-SEOJK.05-2023. Monthly Financial Reports of Social Security Implementing Agencies and Monthly Financial Reports of Social Security Funds.pdf FAQ 22-SEOJK.05-2023. Monthly Financial Reports of Social Security Implementing Agencies and Monthly Financial Reports of Social Security Funds.pdf
Page Content OJK Circular 22/SEOJK.05/2023 Regarding Monthly Financial Reports of Social Security Implementing Agencies and Monthly Financial Reports of Social Security Funds ABSTRACT: To encourage OJK supervision over Social Security Implementing Agencies (BPJS) and to adjust the regulations and financial report formats applicable at BPJS to align with the examination processes of financial service institutions currently. The legal basis for this OJK Circular is: POJK Number 5/POJK.05/2013 Article 16 paragraph (10) as amended by POJK Number 1 of 2023. This OJK Circular regulates the form and structure of monthly financial reports for each BPJS program and DJS, the time for submission of monthly financial reports, and the method of submission of monthly financial reports, including submission via the OJK data communication network system and/or official OJK electronic mail. Monthly Financial Reports include: a. Monthly Financial Reports of BPJS; b. Monthly Financial Reports of DJS Health Insurance; c. Monthly Financial Reports of DJS Old Age Security, Pension; d. Monthly Financial Reports of DJS Work Accident Insurance, Death Insurance, and Job Loss Insurance. Submission of reports is made at the latest 10 (ten) working days after the end of the relevant month. Submission of reports is conducted online via the OJK data communication network system. In the event that the above communication network is not yet available, experiences technical disturbances, or experiences force majeure, Monthly Reports are submitted online via electronic mail. In the event that BPJS cannot submit monthly financial reports online, monthly financial reports are submitted offline in the form of electronic copies (soft files) and sent to the Financial Services Authority via a letter signed by the Board of Directors. NOTE: This OJK Circular takes effect on January 1, 2024. At the time this SEOJK takes effect, SEOJK Number 5/SEOJK.05/2014 Regarding Monthly Financial Reports of Social Security Implementing Agencies and Monthly Financial Reports of Social Security Funds is revoked and declared invalid. Appendix I: 14 PAGES; Appendix II: 15 PAGES; Appendix III: 13 PAGES; Appendix IV: 12 PAGES; Appendix V: 12 PAGES; Appendix VI: 10 PAGES; Appendix VII: 12 PAGES; Appendix VIII: 10 PAGES; Appendix IX: 2 PAGES