PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
continued
DECEMBER 31, 2010 AUDITED AND MARCH 31, 2011 UNAUDITED AND THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2011 UNAUDITED
Figures in tables are presented in millions of Rupiah, unless otherwise stated
89
41. PENSION AND OTHER POST-RETIREMENT BENEFITS
continued
a. Pension continued
1. The Company continued 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 statement of financial positions as of December 31, 2010 and March 31, 2011, for its defined
benefit pension plan:
December 31, March 31, 2010
2011 Change in projected benefits obligation
Projected benefits obligation at beginning of year 11,753,439
14,019,578 Service costs
330,734 98,946
Interest costs 1,199,971
324,759 Plan participants contributions
42,371 11,302
Actuarial gains losses 1,174,236
1,751,524 Expected benefits paid
916,148 172,769
Benefits changed 434,975
- Projected benefits obligation at end of period
14,019,578 12,530,292
Change in plan assets
Fair value of plan assets at beginning of year 12,300,181
15,097,688 Expected return on plan assets
1,286,718 360,248
Employer’s contributions 485,254
48,089 Plan participants contributions
42,371 11,302
Actuarial losses gains 1,603,747
1,739,159 Expected benefits paid
620,583 145,642
Fair value of plan assets at end of period 15,097,688
13,632,526 Funded status
1,078,110 1,102,234
Unrecognized prior service costs 1,399,299
1,331,365 Unrecognized net actuarial gains
2,538,453 2,503,477
Accrued pension benefit costs 61,044
69,878
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. In 2010, the Company replaced the uniformulation with
Manfaat Pensiun Sekaligus “MPS”. MPS is given to those employees reaching retirement age, death or disabled starting from February 1, 2009. The change in benefit had increased
the Company’s liabilities by Rp.434,975 million, which is amortized over 8.63 years until 2018.
The actual return on plan assets was Rp.2,890,465 million and Rp.151,760 million for the years ended December 31, 2010 and three months period ended March 31, 2011,
respectively.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
continued
DECEMBER 31, 2010 AUDITED AND MARCH 31, 2011 UNAUDITED AND THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2011 UNAUDITED
Figures in tables are presented in millions of Rupiah, unless otherwise stated
90
41. PENSION AND OTHER POST-RETIREMENT BENEFITS
continued
a. Pension continued
1. The Company continued The movement of the accrued pension benefits costs for the years ended December 31,
2010 and three months period ended March 31, 2011, is as follows:
December 31, March 31, 2010
2011
Accrued pension benefits costs at beginning of year
410,209 61,044
Net periodic pension cost less amounts charged to subsidiaries
430,170 96,053
Amounts charged to subsidiaries under contractual agreements
1,484 362
Employer’s contributions 780,819
48,089 Benefits paid by the Company
- 39,492
Accrued pension benefits costs at end of period 61,044
69,878
As of December 31, 2010 and March 31, 2011, plan assets consisted mainly of Indonesian Government bonds and corporate bonds. As of December 31, 2010, plan assets included
Series B shares and bonds issued by the Company with fair value totaling Rp.268,801 million and Rp.155,700 million, respectively, representing 1.78 and 1.03 of total assets of Dapen
as of December 31, 2010, respectively. As of March 31, 2011, plan assets included Series B shares and bonds issued by the Company with fair value totaling Rp.257,587 million and
Rp.151,950 million, respectively, representing 1.89 and 1.11 of total assets of Dapen as of March 31, 2011, respectively.
The actuarial valuation for the defined benefit pension plan and the other post-retirement benefits Note 41b was performed based on the measurement date as of December 31,
2009 and 2010, with reports dated March 30, 2010 and March 15, 2011, respectively, by PT Towers Watson Purbajaga “TWP” formerly PT Watson Wyatt Purbajaga, 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, 2009
and 2010, are as follows:
December 31, December 31, 2009
2010
Discount rate 10.75
9.5 Expected long-term return on plan assets
10.5 9.7
Rate of compensation increases 8
8
