PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued JUNE 30, 2009 AND 2010,
AND SIX MONTHS PERIOD ENDED JUNE 30, 2009 AND 2010 Figures in tables are presented in millions of Rupiah, unless otherwise stated
86
42. PENSION AND OTHER POST-RETIREMENT BENEFITS continued a. Pension continued
1. The Company continued The defined benefit pension plan is provided to employees hired with permanent status prior
to July 1, 2002. The pension benefits are paid based on the participating employees’ latest basic salary at retirement and the number of years of their service. The plan is managed by
Telkom Pension Fund “Dana Pensiun Telkom” or “Dapen”. The participating employees contribute 18 before March 2003: 8.4 of their basic salaries to the plan. The Company’s
contributions to the pension fund for six months period ended June 30, 2009 and 2010 amounted to Rp.444,531 million and Rp.282,382 million, respectively.
The defined contribution pension plan is provided to employees hired with permanent status on or after July 1, 2002. The plan is managed by Financial Institutions Pension Fund “Dana
Pensiun Lembaga Keuangan” or “DPLK”. The Company’s contribution to DPLK is determined based on certain percentage of the participants’ salaries and amounted to
Rp.1,852 million and Rp.2,099 million for the six months period ended June 30, 2009 and 2010, respectively.
The following table presents the change in projected benefits obligation, change in plan assets, funded status of the plan and net amount recognized in the Company’s consolidated
balance sheets as of June 30, 2009 and 2010, for its defined benefit pension plan:
2009 2010
Change in projected benefits obligation Projected benefits obligation at beginning of year
9,516,975 11,753,439
Service costs 112,370
155,708 Interest costs
557,787 578,712
Plan participants contributions 22,356
21,091 Actuarial gains losses
794,689 712,633
Expected benefits paid 220,534
361,346 Projected benefits obligation at end of period
10,783,643 11,434,971
Change in plan assets Fair value of plan assets at beginning of year
8,713,418 12,300,181
Expected return on plan assets 515,415
643,359 Employer’s contributions
444,531 282,382
Plan participants contributions 22,356
21,091 Actuarial losses gains
792,854 592,494
Expected benefits paid 202,616
310,292 Fair value of plan assets at end of period
10,285,958 12,344,227
Funded status 497,685
909,256 Unrecognized prior service costs
1,387,059 1,165,738
Unrecognized net actuarial gains 1,441,459
2,171,145
Accrued pension benefit costs 552,085
96,151
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued JUNE 30, 2009 AND 2010,
AND SIX MONTHS PERIOD ENDED JUNE 30, 2009 AND 2010 Figures in tables are presented in millions of Rupiah, unless otherwise stated
87
42. PENSION AND OTHER POST-RETIREMENT BENEFITS continued a. Pension continued
1. The Company continued In 2007, the Company provides pension benefit based on uniformulation for both participants
prior to and from April 20, 1992 effective for employees retiring beginning February 1, 2009. The change in benefit had increased the Company’s liabilities by Rp.698,583 million, which is
amortized over 9.9 years until 2016.
The actual return on plan assets was Rp.1,407,261 million and Rp.976,476 million for six months period ended June 30, 2009 and 2010, respectively.
The movement of the accrued pension benefits costs during the six months period ended June 30, 2009 and 2010, is as follows:
2009 2010
Accrued pension benefits costs at beginning of year 775,657
410,209 Net periodic pension cost less amounts
charged to subsidiaries 236,674
138,656 Amounts charged to subsidiaries
under contractual agreements 367
861 Employer’s contributions
444,531 282,382
Benefits paid by the Company 16,082
171,193
Accrued pension benefits costs at end of year 552,085
96,151
As of June 30, 2009 and 2010, plan assets consisted mainly of Indonesian Government bonds and corporate bonds. As of June 30, 2009 and 2010, plan assets included Series B
shares issued by the Company with fair value totaling Rp.308,999 million and Rp.310,975 million, respectively, representing 3.00 and 2.52 of total assets of Dapen as
of June 30, 2009 and 2010, respectively.
The actuarial valuation for the defined benefit pension plan and the other post-retirement benefits Note 42b was performed based on the measurement date as of
December 31, 2008 and 2009, with reports dated March 31, 2009 and March 30, 2010, respectively, by PT Watson Wyatt Purbajaga “WWP”, an independent actuary in association
with Towers Watson “TW” formerly Watson Wyatt Worldwide. The principal actuarial assumptions used by the independent actuary as of December 31, 2008 and 2009, are as
follows:
2008 2009
Discount rate 12
10.75 Expected long-term return on plan assets
11.5 10.5
Rate of compensation increases 8
8
