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Rule · OJK · 25 Nov 2013 · 14/SEOJK.05/2013

OJK Circular Letter No. 14/SEOJK.05/2013 on Monthly Reports of PT Jamsostek (Persero)

disclosure

PT Jamsostek (Persero) is required to submit monthly reports to the Otoritas Jasa Keuangan (OJK) by the 10th of the following month, or the next business day if that date falls on a holiday. Reports must be submitted online via the OJK data communication network or email, with offline submission permitted under specific conditions. Failure to comply triggers a sequence of three written warnings, each granting a 30-day period for compliance before further administrative sanctions are applied. A transitional provision mandates that monthly reports for October and November 2013 be submitted by the end of the subsequent months.

IndonesiaOtoritas Jasa Keuangan (Financial Services Authority)

To:
PT Jamsostek (Persero)
At Location

COPY

CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY NUMBER 14/SEOJK.05/2013

ABOUT
MONTHLY REPORTS OF PT JAMSOSTEK (PERSERO)

In connection with Financial Services Authority Regulation Number 3/POJK.05/2013 dated 12 September 2013 concerning Monthly Reports of Non-Bank Financial Service Institutions (State Gazette of the Republic of Indonesia Year 2013 Number 150, Additional State Gazette of the Republic of Indonesia Number 5443), it is necessary to regulate implementation provisions regarding monthly reports of PT Jamsostek (Persero) in this Financial Services Authority Circular Letter as follows:

I. GENERAL PROVISIONS

  1. The Financial Services Authority, hereinafter abbreviated as OJK, is an independent institution free from the interference of other parties, which has the functions, duties, and authorities for regulation, supervision, examination, and investigation, as referred to in Law Number 21 of 2011 concerning the Financial Services Authority.

  2. Monthly Report is a financial report prepared by non-bank financial service institutions for the needs of the OJK, which covers the period from the 1st to the end of the current month and is submitted according to the format and procedures determined by the OJK.

II. FORM AND STRUCTURE OF MONTHLY REPORTS

The form and structure of Monthly Reports for PT Jamsostek (Persero) are as stated in the Appendix which is an inseparable part of this OJK Circular Letter.

III. TIME FOR SUBMISSION OF MONTHLY REPORTS

  1. PT Jamsostek (Persero) is required to submit Monthly Reports to the OJK no later than the 10th of the following month.

  2. In the event that the 10th date as referred to in item 1 falls on a holiday, the Monthly Report is required to be submitted on the next business day.

IV. PROCEDURES FOR SUBMISSION

  1. Submission of Monthly Reports is conducted online through the OJK data communication network system.

  2. In the event that the OJK data communication network system is not yet available, Monthly Reports are submitted online via the company's official email by attaching a softcopy of the Monthly Report in spreadsheet format to LB.ASOS@ojk.go.id

  3. In the event that Monthly Reports are submitted offline, submission is conducted via a letter signed by the Board of Directors and addressed to:
    Financial Services Authority u.p. Director of Insurance Supervision Sumitro Djojohadikusumo Building, 14th Floor Jl. Lapangan Banteng Timur Number 2-4 Jakarta 10710

  4. Submission of Monthly Reports offline as referred to in item 3 can be done in one of the following ways:
    a. handed in directly to the OJK office; b. sent via registered post office; or
    c. sent via a courier/courier service company.

  5. PT Jamsostek (Persero) is deemed to have submitted Monthly Reports with the following provisions:
    a. for submission online via email, evidenced by an email receipt from the OJK, b. for offline submission, evidenced by:
    1) a receipt letter from the OJK, if the report is handed in directly to the OJK office; or
    2) a shipping receipt from the post office or courier/courier service company, if the report is sent via the post office or courier/courier service company.

  6. In the event of changes to the OJK email address as referred to in item 2 and/or changes to the OJK office address as referred to in item 3, the OJK will convey the address changes via letter or announcement.

V. SANCTION PROVISIONS

  1. The OJK establishes administrative sanctions in the form of a first written warning as regulated in Article 6 paragraph (3) of OJK Regulation Number 3/POJK.05/2013 concerning Monthly Reports of Non-Bank Financial Service Institutions, with a deadline for fulfilling the obligation to submit Monthly Reports of no more than 30 (thirty) days from the establishment of the administrative sanction in the form of a first written warning.

  2. If within the time period as referred to in item 1 the obligation to submit Monthly Reports has not been fulfilled, the OJK establishes administrative sanctions in the form of a second written warning as regulated in Article 6 paragraph (4) of OJK Regulation Number 3/POJK.05/2013 concerning Monthly Reports of Non-Bank Financial Service Institutions, with a deadline for fulfilling the obligation to submit Monthly Reports of no more than 30 (thirty) days from the establishment of the administrative sanction in the form of a second written warning.

  3. If within the time period as referred to in item 2 the obligation to submit Monthly Reports has not been fulfilled, the OJK establishes administrative sanctions in the form of a third written warning as regulated in Article 6 paragraph (4) of OJK Regulation Number 3/POJK.05/2013 concerning Monthly Reports of Non-Bank Financial Service Institutions, with a deadline for fulfilling the obligation to submit Monthly Reports of no more than 30 (thirty) days from the establishment of the administrative sanction in the form of a third written warning.

VI. TRANSITIONAL PROVISIONS

  1. PT Jamsostek (Persero) is required to submit Monthly Reports to the OJK for the year 2013 period, namely only for October 2013 and November 2013, no later than the end of the following month.

  2. In the event that the end of the following month date as referred to in item 1 falls on a holiday, the Monthly Report is required to be submitted on the next business day.

VII. CLOSING

This OJK Circular Letter takes effect on the date of establishment. To ensure everyone knows, it orders the announcement of this OJK Circular Letter by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on 25 November 2013

EXECUTIVE HEAD OF IKNB SUPERVISOR FINANCIAL SERVICES AUTHORITY, Signed, FIRDAUS DJAELANI

Copy matches the original
Head of Legal Assistance Division Legal Directorate Signed, Mufli Asmawidjaja

APPENDIX
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY NUMBER 14/SEOJK.05/2013 ABOUT MONTHLY REPORTS OF PT JAMSOSTEK

To:
Financial Services Authority
Up. Director of Insurance Supervision Sumitro Djojohadikusumo Building, 14th Floor Jl. Lapangan Banteng Timur 1 - 4 Jakarta - 10710

MONTHLY REPORT
PT JAMSOSTEK (PERSERO)
For …………./ Month ………. Year ………..
(Company Address)

(in millions of rupiah)

DescriptionSAK BalanceSAP Balance
ASSETS
Investments
Time Deposits, Certificate of Deposits and DOC 1)--
Stocks listed on the stock exchange--
Capital Market Debt Instruments--
Securities Issued by the Government or BI--
Mutual Fund Participation Units--
Repurchase Agreement (REPO)--
Direct Investments--
Land, Buildings or Land with Buildings--
Other Investments 2)--
Total Investments--
Non-Investments
Cash and Bank--
Contribution Receivables--
Investment Receivables--
Investment Result Receivables--
Other Non-Investments--
Total Non-Investments--
TOTAL ASSETS--
LIABILITIES
Liabilities
Old Age Security Liabilities
Old Age Security Payables--
Total Old Age Security Liabilities--
Non-Old Age Security Liabilities
Technical Reserves--
Claim Payables--
Total Non-Old Age Security Liabilities--
Other Liabilities
Total All Liabilities--
Own Capital
Paid-in Capital--
General Reserves--
Purpose Reserves--
Fixed Asset Valuation Differences--
Non-OAS Securities Valuation Differences--
Profit Balance
Valuation Differences Based on SAK and SAP
Non-Calculated Assets--
Total Own Capital--
TOTAL LIABILITIES--

Month … Year …

PT JAMSOSTEK (PERSERO)
FINANCIAL POSITION REPORT For ….

Notes:
1) Deposit on Call
Bank Investments are included in DOC
2) Based on Article 35 of Government Regulation Number 22 of 2004 concerning the Management and Investment of Labor Social Security Program Funds, until 5 August 2006 treated as calculated assets in the calculation of solvency levels. After 5 August 2006, it is a type of investment that is prohibited.

(in millions of rupiah)

DescriptionOASNon-OASTotal
Contribution Revenue
Guarantee Expenses
Technical Reserve Expenses
Net Contribution Revenue
Investment Income
Investment Expenses
Net Investment Income
Total Business Revenue
Business Expenses
Business Profit
Other Revenues
Other Expenses
Net Other Revenues
Gross Profit
Participant Share of OAS Investment Results
Profit Before Tax
Estimated Income Tax
Deferred Tax (Expense) Income
Profit After Tax

PT JAMSOSTEK (PERSERO)
COMPREHENSIVE INCOME STATEMENT For ….
Month … Year …

(in millions of rupiah)

DescriptionMonth …Year …
BEGINNING BALANCE OF CASH AND BANK
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Inflows
a. Contribution Receipts
b. Investment Fund Disbursement
c. Investment Result Receipts
d. Other Receipts
Total Cash Inflows-
Cash Outflows
a. Guarantee Payments
b. Investment Fund Placement
c. Business Expense Payments
d. Investment Expense Payments
e. Other Payments
Total Cash Outflows-
TOTAL CASH FLOWS FROM OPERATING ACTIVITIES-
CASH FLOWS FROM INVESTMENT ACTIVITIES
Cash Inflows
a. Return/Repayment of Employee Receivables
b. Others
Total Cash Inflows-
Cash Outflows
a. Acquisition of Ready-to-Use Fixed Assets
b. Loans to Employees
c. Others
Total Cash Outflows-
TOTAL CASH FLOWS FROM INVESTMENT ACTIVITIES-
CASH FLOWS FROM FINANCING ACTIVITIES
Cash Inflows
a. OAS Contribution Receipts
b. Others
Total Cash Inflows-
Cash Outflows
a. OAS Payments to Participants
b. Shareholder Dividends
c. Tantiem
d. PUKK Fund
e. DPKP
f. Others
Total Cash Outflows-
TOTAL CASH FLOWS FROM FINANCING ACTIVITIES-
ENDING BALANCE OF CASH AND BANK-

PT JAMSOSTEK (PERSERO)
CASH FLOW STATEMENT
For ….

(in millions of rupiah)

DescriptionMonth …Year …
Solvency Level
Assets-
Liabilities-
Total Solvency Level-
Minimum Solvency Level Threshold (BTSM)
20% x all non-Old Age Security liabilities
Solvency Level (in %) 1)#DIV/0!
1) Total Solvency Level divided by Total BTSM

PT JAMSOSTEK (PERSERO)
SOLVENCY LEVEL REPORT
Solvency Achievement Ratio
For ….

Asset/Liability Age 1)Liability Age 1)Asset to Liability Ratio 2)
RupiahForeign Currency 3)TotalRupiahForeign Currency 3)TotalRupiahForeign Currency 3)Total
≤ 1 year
1 year < age ≤ 5 years
5 years < age ≤ 10 years
> 10 years
Total
Rupiah 2)Foreign Currency 2)Total 2)

Notes:
1) In millions of rupiah
2) In percentage
3) Already converted to rupiah currency
Current assets/liabilities are assets/liabilities with an age of less than 1 year up to 1 year. Non-current assets/liabilities are assets/liabilities with an age of more than 1 year.

Signed,

DescriptionCurrent Asset to Non-Current Asset RatioCurrent Liability to Non-Current Liability Ratio
PT JAMSOSTEK (PERSERO)
ASSET AND LIABILITY MATCHING ANALYSIS REPORT
For … / Month … Year …
Asset Age 1)Liability Age 1)Asset to Liability Ratio 2)

Signed,

Head of Legal Assistance Division Legal Directorate Signed, FIRDAUS DJAELANI

Established in Jakarta on 25 November 2013

EXECUTIVE HEAD OF IKNB SUPERVISOR FINANCIAL SERVICES AUTHORITY

Copy matches the original
Head of Legal Assistance Division

DescriptionCurrent Asset to Non-Current Asset RatioCurrent Liability to Non-Current Liability Ratio
PT JAMSOSTEK (PERSERO)
ASSET AND LIABILITY MATCHING ANALYSIS REPORT
For … / Month … Year …
Asset Age 1)Liability Age 1)Asset to Liability Ratio 2)

Signed,

Legal Directorate
Signed,
FIRDAUS DJAELANI
Mufli Asmawidjaja

Established in Jakarta on 25 November 2013

EXECUTIVE HEAD OF IKNB SUPERVISOR FINANCIAL SERVICES AUTHORITY

Copy matches the original

To:
Financial Services Authority
Up. Director of Insurance Supervision Sumitro Djojohadikusumo Building, 14th Floor Jl. Lapangan Banteng Timur 1 - 4 Jakarta - 10710

MONTHLY REPORT
PT JAMSOSTEK (PERSERO)
For …………./ Month ………. Year ………..
(Company Address)

(in millions of rupiah)

DescriptionSAK BalanceSAP Balance
ASSETS
Investments
Time Deposits, Certificate of Deposits and DOC 1)--
Stocks listed on the stock exchange--
Capital Market Debt Instruments--
Securities Issued by the Government or BI--
Mutual Fund Participation Units--
Repurchase Agreement (REPO)--
Direct Investments--
Land, Buildings or Land with Buildings--
Other Investments 2)--
Total Investments--
Non-Investments
Cash and Bank--
Contribution Receivables--
Investment Receivables--
Investment Result Receivables--
Other Non-Investments--
Total Non-Investments--
TOTAL ASSETS--
LIABILITIES
Liabilities
Old Age Security Liabilities
Old Age Security Payables--
Total Old Age Security Liabilities--
Non-Old Age Security Liabilities
Technical Reserves--
Claim Payables--
Total Non-Old Age Security Liabilities--
Other Liabilities
Total All Liabilities--
Own Capital
Paid-in Capital--
General Reserves--
Purpose Reserves--
Fixed Asset Valuation Differences--
Non-OAS Securities Valuation Differences--
Profit Balance
Valuation Differences Based on SAK and SAP
Non-Calculated Assets--
Total Own Capital--
TOTAL LIABILITIES--

Month … Year …

PT JAMSOSTEK (PERSERO)
FINANCIAL POSITION REPORT For ….

Notes:
1) Deposit on Call
Bank Investments are included in DOC
2) Based on Article 35 of Government Regulation Number 22 of 2004 concerning the Management and Investment of Labor Social Security Program Funds, until 5 August 2006 treated as calculated assets in the calculation of solvency levels. After 5 August 2006, it is a type of investment that is prohibited.

(in millions of rupiah)

DescriptionOASNon-OASTotal
Contribution Revenue
Guarantee Expenses
Technical Reserve Expenses
Net Contribution Revenue
Investment Income
Investment Expenses
Net Investment Income
Total Business Revenue
Business Expenses
Business Profit
Other Revenues
Other Expenses
Net Other Revenues
Gross Profit
Participant Share of OAS Investment Results
Profit Before Tax
Estimated Income Tax
Deferred Tax (Expense) Income
Profit After Tax

PT JAMSOSTEK (PERSERO)
COMPREHENSIVE INCOME STATEMENT For ….
Month … Year …

(in millions of rupiah)

DescriptionMonth …Year …
BEGINNING BALANCE OF CASH AND BANK
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Inflows
a. Contribution Receipts
b. Investment Fund Disbursement
c. Investment Result Receipts
d. Other Receipts
Total Cash Inflows-
Cash Outflows
a. Guarantee Payments
b. Investment Fund Placement
c. Business Expense Payments
d. Investment Expense Payments
e. Other Payments
Total Cash Outflows-
TOTAL CASH FLOWS FROM OPERATING ACTIVITIES-
CASH FLOWS FROM INVESTMENT ACTIVITIES
Cash Inflows
a. Return/Repayment of Employee Receivables
b. Others
Total Cash Inflows-
Cash Outflows
a. Acquisition of Ready-to-Use Fixed Assets
b. Loans to Employees
c. Others
Total Cash Outflows-
TOTAL CASH FLOWS FROM INVESTMENT ACTIVITIES-
CASH FLOWS FROM FINANCING ACTIVITIES
Cash Inflows
a. OAS Contribution Receipts
b. Others
Total Cash Inflows-
Cash Outflows
a. OAS Payments to Participants
b. Shareholder Dividends
c. Tantiem
d. PUKK Fund
e. DPKP
f. Others
Total Cash Outflows-
TOTAL CASH FLOWS FROM FINANCING ACTIVITIES-
ENDING BALANCE OF CASH AND BANK-

PT JAMSOSTEK (PERSERO)
CASH FLOW STATEMENT
For ….

(in millions of rupiah)

DescriptionMonth …Year …
Solvency Level
Assets-
Liabilities-
Total Solvency Level-
Minimum Solvency Level Threshold (BTSM)
20% x all non-Old Age Security liabilities
Solvency Level (in %) 1)#DIV/0!
1) Total Solvency Level divided by Total BTSM

PT JAMSOSTEK (PERSERO)
SOLVENCY LEVEL REPORT
Solvency Achievement Ratio
For ….

Asset/Liability Age 1)Liability Age 1)Asset to Liability Ratio 2)
RupiahForeign Currency 3)TotalRupiahForeign Currency 3)TotalRupiahForeign Currency 3)Total
≤ 1 year
1 year < age ≤ 5 years
5 years < age ≤ 10 years
> 10 years
Total
Rupiah 2)Foreign Currency 2)Total 2)

Notes:
1) In millions of rupiah
2) In percentage
3) Already converted to rupiah currency
Current assets/liabilities are assets/liabilities with an age of less than 1 year up to 1 year. Non-current assets/liabilities are assets/liabilities with an age of more than 1 year.

Signed,

DescriptionCurrent Asset to Non-Current Asset RatioCurrent Liability to Non-Current Liability Ratio
PT JAMSOSTEK (PERSERO)
ASSET AND LIABILITY MATCHING ANALYSIS REPORT
For … / Month … Year …
Asset Age 1)Liability Age 1)Asset to Liability Ratio 2)

Signed,

Legal Directorate
Signed,
FIRDAUS DJAELANI
Mufli Asmawidjaja

Established in Jakarta on 25 November 2013

EXECUTIVE HEAD OF IKNB SUPERVISOR FINANCIAL SERVICES AUTHORITY

Copy matches the original

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