NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2012 AND 2011
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5134 48. GENERAL AND ADMINISTRATIVE EXPENSES
2012 2011
Professional fees 1,376,443
1,108,914 Promotions
1,000,810 929,292
Rent 964,594
864,746 Repairs and maintenance
861,311 631,524
Communications 763,002
577,075 Goodsservices provided by third parties
634,016 400,747
Depreciation of fixed assets Note 19 620,675
412,593 Electricity, water and gas
380,490 343,654
Office supplies 356,873
407,006 Transportations
265,332 222,711
Traveling expenses 167,844
145,454 Amortisation of intangible assets Note 20
89,884 56,311
Insurance expenses 65,550
60,564 Others
707,078 417,052
8,253,902 6,577,643
For the year ended 31 December 2012 and 2011, promotions expenses include the sweepstakes prize expense of third party funds amounting to Rp34,006 and Rp46,247, respectively.
49. EMPLOYEE BENEFITS
Under the Bank’s policy, in addition to salaries, employees are entitled to allowances and benefits, such as holiday allowance THR, medical reimbursements, death allowance, leave allowance,
functional allowance for certain levels, pension plan for permanent employees, incentives based on employee’s and the Bank’s performance, and post-employment benefits in accordance with prevailing
Labor Law.
Pension Plan
Bank Mandiri has five pension plans in the form of Employer Pension Plans DPPK as follows: a.
One defined contribution pension fund, Dana Pensiun Pemberi Kerja Program Pensiun Iuran Pasti DPPK-PPIP or Bank Mandiri Pension Plan Dana Pensiun Bank Mandiri DPBM which
was established on 1 August 1999. The DPBM’s regulations were approved by the Minister of Finance of the Republic of Indonesia through its Decision Letter No. KEP300KM.0171999
dated 14 July 1999 and was published in supplement of the State Gazette of the Republic of Indonesia
No. 62
dated 3 August
1999 and
Bank Mandiri’s
Directors’ Resolution
No. 004KEP.DIR1999 dated 26 April 1999 and were amended based on the Minister of Finance of the Republic of Indonesia’s Decision Letter No. KEP-213KM.52005 dated 22 July 2005 and
was published in the supplement of the State Gazette of the Republic of Indonesia No. 77 dated 27 September 2005 and Bank Mandiri’s Directors’ Resolution No. 068KEP.DIR2005 dated 28
June 2005.
Bank Mandiri and the employees contribute 10.00 and 5.00 of the Base Pension Plan Employee Income, respectively.
The Board of Directors and the members of the Supervisory Board of the DPBM are active employees of Bank Mandiri; therefore, in substance, Bank Mandiri has control over the DPBM.
DPBM invests a part of its investment fund in Bank Mandiri time deposits, of which total balance as at 31 December 2012 and 2011 were Rp82,260 and Rp35,175 respectively. The interest rates
on these time deposits are given on arms-length basis.
For the years ended 31 December 2012 and 2011, the Bank paid pension contributions amounting to Rp226,929 and Rp200,629, respectively.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2012 AND 2011
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5135 49. EMPLOYEE BENEFITS continued
Pension Plan continued
b. Four defined benefit pension funds, Dana Pensiun Pemberi Kerja Program Pensiun Manfaat Pasti
DPPK-PPMP which were derived from the respective pension plans of the ex-legacy Merged Banks, namely Dana Pensiun Bank Mandiri Satu or DPBMS BBD, DPBMD BDN, DPBMT Bank
Exim and DPBME Bapindo. The regulations of the respective pension plans were approved by the Minister of Finance of the Republic of Indonesia’s through its decision letters No. KEP-
394KM.0171999,
No. KEP-395KM.0171999, No. KEP-396KM.0171999
and No. KEP-
397KM.0171999 all dated 15 November 1999. Based on the approval from shareholders No. S- 923M-MBU2003 dated 6 March 2003, Bank Mandiri has adjusted pension benefits for each
Pension Fund. Such approval has been incorporated in each of the Pension Fund’s Regulations Peraturan Dana Pensiun PDP which have been approved by the Minister of Finance of the
Republic of Indonesia based on its decision letters No. KEP115KM.62003 for PDP DPBMS, No. KEP116KM.62003 for PDP DPBMD, No. KEP117KM.62003 for PDP DPBMT, and
No. KEP118KM.62003 for DPBME, all dated 31 March 2003.
The members of the defined benefit pension plans are the employees from the legacy banks who have rendered three or more services years at the time of merger and are comprise of active
employees of the Bank, former employee those who have resigned and did not transfer their beneficial right to other pension plan and pensioners.
Based on the decision of the General Shareholders’ Meeting dated 28 May 2007, Bank Mandiri increased the pension benefit from each of the Pension Plans. The decision was stated in each
Pension Plan Regulation and has been approved by the Minister of Finance of the Republic of Indonesia with decision letter No. KEP-144KM.102007 DPBMS; No. KEP-145KM.102007
DPBMD; No. KEP-146KM.102007 DPBMT and No. KEP-147KM.102007 DPBME, all dated 20 July 2007.
Based on the approval of the General Meeting of Shareholders AGM on 17 May 2010, Bank Mandiri increased the retirement benefits of each pension fund. Decision to increase pension
benefits was set forth in the Regulation of Pension Fund respectively and approved by the Minister of Finance Decree No. KEP-441KM.102010 dated 10 August 2010 DPBMS; No. KEP-
442KM.102010 dated 10 August 2010 DPBMD; No. KEP-443KM.102010 dated 10 August 2010 DPBMT and No. KEP-444KM.102010 dated 10 August 2010 DPBME.
Based on the approval of the General Meeting of Shareholders AGM on 23 May 2011, Bank Mandiri increased the retirement benefits of each pension fund. Decision to increase pension
benefits was set forth in the Regulation of Pension Fund respectively and has been approved by the Minister of Finance Decree No. KEP-588KM.102011 dated 20 July 2011 DPBMS; No. KEP-
589KM.102011 dated 20 July 2011 DPBMD; No. KEP-590KM.102011 dated 20 July 2011 DPBMT and No. KEP-591KM.102011 dated 20 July 2011 DPBME.
As at 31 December 2012 and 2011, the provision for pension benefit obligation are calculated by the independent actuary as shown in the independent actuarial report of PT Dayamandiri
Dharmakonsilindo dated 21 January 2013 for the year ended on 31 December 2012 and the independent actuarial report of PT Dayamandiri Dharmakonsilindo dated 18 January 2012 for the
year ended 31 December 2011. The assumptions used for the years ended 31 December 2012 and 2011 are as follows:
