PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND
NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated
94
41. PENSION AND OTHER POST-RETIREMENT BENEFITS continued a. Pension continued
1. The Company continued 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.4,396 million and Rp.3,704 million for the year ended December 31, 2010 and nine
months period ended September 30, 2011, 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
statement of financial positions as of December 31, 2010 and September 30, 2011, for its defined benefit pension plan:
December 31, September 30, 2010
2011 Change in projected benefits obligation
Projected benefits obligation at beginning of year 11,753,439
14,019,578 Service costs
330,734 296,839
Interest costs 1,199,971
974,276 Plan participants contributions
42,371 33,524
Actuarial gains losses 1,174,236
2,183,146 Expected benefits paid
916,148 518,307
Benefits changed 434,975
- Projected benefits obligation at end of period
14,019,578 12,622,764
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
1,080,745 Employer’s contributions
485,254 142,638
Plan participants contributions 42,371
33,524 Actuarial losses gains
1,603,747 2,142,233
Expected benefits paid 620,583
436,927 Fair value of plan assets at end of period
15,097,688 13,775,435
Funded status 1,078,110
1,152,671 Unrecognized prior service costs
1,399,299 1,195,497
Unrecognized net actuarial gains 2,538,453
2,433,526
Accrued pension benefit costs 61,044
85,358
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND
NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated
95
41. 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. 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.503,200 million for the years ended December 31, 2010 and nine months period ended September 30, 2011,
respectively.
The movement of the accrued pension benefits costs for the years ended December 31, 2010 and nine months period ended September 30, 2011, is as follows:
December 31, September 30, 2010
2011
Accrued pension benefits costs at beginning of year
410,209 61,044
Net periodic pension cost less amounts charged to subsidiaries
430,170 288,270
Amounts charged to subsidiaries under contractual agreements
1,484 975
Employer’s contributions 780,819
264,931
Accrued pension benefits costs at end of period 61,044
85,358
As of December 31, 2010 and September 30, 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 September 30, 2011, plan assets included Series B shares and bonds issued by the Company with fair value totaling
Rp.268,412 million and Rp.156,375 million, respectively, representing 1.95 and 1.14 of total assets of Dapen as of September 30, 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:
