Who Will Reap the Benefits of Tapera?

By Editorial Team 04/06/2020
Summary

President Joko Widodo recently issued Government Regulation (PP) No. 25/2020 on public housing savings or Tapera. Signed on May 20, 2020, the regulation binds all private workers, state-owned enterprises (SOEs/BUMN) employees, civil servants, to the military and police personnel to participate in the program.

The regulation consists of the Tapera Act No. 4/2016 technicalities, such as Tapera participants’ contributions. In Article 15, for example, workers must pay three percent of their salary or wages for the program, 0.5 percent of it funded by the employers, while workers compensate for the rest. Meanwhile, independent participants’ contributions will depend on the average monthly income in the previous year with a particular limit. Independent participants will own all deposits privately.

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