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PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Three Months Period Ended March 31, 2016 and 2015 unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
Table of Contents
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS continued b. Pension benefit costs continued
i. The Company continued b. Unfunded
continued The following table presents the change in projected pension benefits obligation of MPS and
MPP for the three months period ended March 31, 2016 and for the year ended December 31, 2015:
March 31, 2016 December 31,2015
Changes in projected pension benefit obligations
Unfunded projected pension benefit obligations at beginning of year
2,500 2,326
Service costs 16
60 Interest costs
54 191
Actuarial losses recognized in OCI -
187 Benefits paid by employer
80 264
Unfunded projected pension benefit obligations at end of year
2,490 2,500
The components of total periodic pension benefit cost are as follows:
March 31,
2016 March 31,
2015
Service costs 16
15 Net interest cost
54 48
Total periodic pension benefit cost 70
63
Amounts recognized in OCI amounted to RpNil billion as of March 31, 2016 and 2015, respectively.
The actuarial valuation on defined benefit pension plan and other post employment benefits Note 30b and 31c was performed based on the date of December 31, 2015 and 2014, in a
report dated February 25, 2016 and March 13, 2015 by PT Towers Watson Purbajaga TWP, independent actuary in association with Towers Watson Willis WTW formerly
Towers Watson. The principal actuarial assumptions used by the independent actuary as of December 31,
2015 and 2014 are as follows:
December 31, 2015 December 31, 2014
Discount rate 9.00
8.50 Rate of compensation increases
varies 8.00
Indonesian mortality table 2011
2011
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PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Three Months Period Ended March 31, 2016 and 2015 unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
Table of Contents
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS continued b. Pension benefit costs continued
ii Telkomsel
Telkomsel provides a defined benefit pension plan to its employees. Under this plan, employees are entitled to pension benefits based on their latest basic salary or take-home
pay and the number of years of their service. PT Asuransi Jiwasraya “Jiwasraya”, a state- owned life insurance company, manages the plan under an annuity insurance contract. Until
2004, the employees contributed 5 of their monthly salaries to the plan and Telkomsel contributed any remaining amount required to fund the plan. Starting 2005, the entire
contributions have been fully made by Telkomsel.
Telkomsel’s contributions to Jiwasraya amounted to RpNil and Rp192 billion for the three months period ended March 31, 2016 and for the year ended December 31, 2015,
respectively. The following table presents the change in projected pension benefits obligation, change in
pension plan assets, funded status of the pension plan and net amount recognized in the Company’s consolidated statement of financial position for the three months period ended
March 31, 2016 and for the year ended December 31, 2015 of its defined benefit pension plan:
March 31, 2016 December 31, 2015
Changes in projected pension benefit obligation
Projected pension benefit obligation at beginning of year
1,415 1,281
Charged to profit or loss Service costs
27 101
Net interest cost 29
106 Actuarial losses gain recognized in OCI
- 64
Expected benefits paid -
9 Projected pension benefit obligation at end of year
1,471 1,415
Changes in pension benefit plan assets
Fair value of plan assets at beginning of year 612
469 Interest income in profit or loss
11 39
Return on plan assets excluding amount included in net interest expense
- 79
Employer’s contributions -
192 Expected benefits paid
- 9
Fair value of plan assets at end of year 623
612 Funded status
848 803
Provision for pension benefit cost 848
803
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PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Three Months Period Ended March 31, 2016 and 2015 unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
Table of Contents
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS continued b. Pension benefit costs continued