How Govt Plans to Save the Troubled SOE Pension Funds


State-Owned Enterprises (SOEs) Minister Erick Thohir said that the pension funds of many SOEs in Indonesia were facing severe challenges due to mismanagement and corruption.

He said the ministry had found a pension fund worth Rp 9.5 trillion that indicated wrongdoing or unsuitable investment. “The SOE pension funds had a management deadline yesterday. We consolidated Rp 9.5 trillion, which indicated wrong investment or corruption,” he said at the SOEs Ministry in Jakarta on Thursday.

The ministry has taken action on the problematic pension fund by collaborating with the Attorney General’s Office (AGO). The AGO has named six suspects in the alleged corruption case in managing the PT Pelabuhan Indonesia Port and Dredging Company Pension Fund (DP4) from 2013 to 2019.

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