BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
40
b. Employee Benefits
Bank Indonesia provides post and long-term employment benefit program. The actuarial calculation on post and long-term employment benefit program was performed by an
independent actuary for the position of December 31, 2008 with a discount rate of 12.
Post employment programs consists of defined benefit pension plan managed by DAPENBI, Old Age Benefit Program Tunjangan Hari Tua - BKP and Baperum managed
by YKKBI, other post employment benefit programs without funding, which consists of Pre-Retirement Transition Paid Leave Uang Masa Persiapan Pensiun - MPP and benefit
payable upon termination at normal retirement age and other long-term benefits such as Grand Leaves and Long Service Awards.
Employee benefits assets, liabilities and expenses movement for the period of January 1 up to December 31, 2008 are as follows:
Other Post
Other Pension
Benefits THT
Employment Benefits
Long-term Benefits
Tax Total
IDR million IDR million
IDR million IDR million
IDR million IDR million
1 2
3 4
5 6
AssetLiability Balance as at Dec 31, 2007
231,401 647,484 173,717 797,484 122,946 1,973,032
Employee Benefits Expense
175,927 363,425
120,122 132,228 38,421 830,123 BI Contribution
62,051 304,101 0 366,152
Benefit Payment 25,363 125,597 39,366 190,326
AssetLiability Balance as at Dec 31,
2008
345,277 706,808 268,476 804,115 122,001 2,246,677
See Notes C.36 – General and Other Expenses
Total Employee Benefits liabilities for pension benefits, Old Age Benefit Program THT, Other Post Employment Benefits, Other Long-Term Benefits and Tax as at December 31,
2008 amounted to IDR2,246,677 million.
As at December 31, 2008, DAPENBI’s funding was derived from employees’ and Bank Indonesia’s contribution amounted to 7 and 13 respectively, based on basic
pension salary. As at December 31, 2008, YKKBI funding was derived from Old Age Benefit Program THT from Bank Indonesia amounted to 20 of basic salary with
consideration to the city index. Starting September 2008, Bank Indonesia has discontinued additional THT contributions to YKKBI as stated in Governor of Bank
Indonesia Decree Number 1041KEP.GBIINTERN2008. Additional THT contributions up to October 2008 amounted to IDR193,272 million as stated in Governor of Bank
Indonesia Decree Number 614KEP.GBIINTERN2004 dated June 14, 2004.
BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
41
25. Capital
Based on Act of the Republic of Indonesia Number 23 of 1999 concerning Bank Indonesia as amended by Act of the Republic of Indonesia Number 3 of 2004, the capital
of Bank Indonesia shall be at least IDR2,000,000,000,000 two trillion Rupiahs. The capital shall be increased up to 10 ten percent of the total monetary liabilities, with
funds to be derived from general reserves or asset revaluation reserves. The capital of Bank Indonesia as at December 31, 2008 is the same as at December 31, 2007
amounted to IDR7,610,885 million. This amount is derived from the capital amounted to IDR2,948,029 million and fixed asset revaluation reserve amounted to IDR4,662,856
million.
26. General and Statutory Reserves
According to Article 62 of Act of the Republic of Indonesia Number 23 of 1999 concerning Bank Indonesia as amended by Act of the Republic of Indonesia Number 3 of
2004, the surplus of Bank Indonesia shall be distributed as follows:
a. 30 for the Statutory Reserves; b. the remainder to be reinvested as General Reserves so that the sum of capital and
General Reserves becomes 10 of the monetary liabilities as referred to in Article 6 paragraph 2.
Furthermore, as stated in Article II Number 3, as long as the settlement of BLBI has not been completed, Statutory Reserves shall be set at 10.
According to the explanation of Article 62 as mentioned above, Statutory Reserves is used, among other things, to finance the replacement and or renewal of fixed assets, the
procurement of required equipment, and the development of organization and human resources in implementing the tasks and authority of Bank Indonesia, as well as the
investment needed in implementing the tasks of Bank Indonesia. The Statutory Reserves used during 2008 amounted to IDR318,788 million with details as follows:
-
Replacementrenewal of fixed assets amounted to IDR270,747 million. -
Development of organization and human resources amounted to IDR48,041 million. The balances of Statutory Reserves and General Reserves as at December 31, 2008
amounted to IDR49,663,865 million and IDR13,364,549 million respectively.
27. Unrealized GainsLosses The balances of Unrealized GainsLosses as at December 31, 2008 and December 31,
2007 amounted to IDR61,957,127 million and IDR40,990,336 million respectively, with details as follows: