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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 continued Movements of the provision for pension benefit cost for the three months period ended March
31, 2016 and for the year ended December 31, 2015:
March 31, 2016 December 31, 2015
Provision for pension benefit cost at beginning of year 803
812 Periodic pension benefit cost
5 168
Actuarial gain losses recognized via the OCI -
64 Return on plan assets excluding amount included in net
interest expense -
79 Employer contributions
- 192
Provision for pension benefit cost at end of year 808
803
The components of the periodic pension benefit cost are as follows:
2016 2015
Service costs 27
25 Net interest cost
29 13
Total periodic pension benefit cost 56
38
The net periodic pension costs for the pension plan was calculated based on the measurement date as of December 31, 2015 and 2014, with reports dated February 12, 2016
and February 5, 2015, respectively, by TWP, an independent actuary in association with WTW. The principal actuarial assumptions used by the independent actuary based on the
measurement date as of December 31, 2015 and 2014, are as follows:
December 31, 2015
December 31, 2014
Discount rate 9.25
8.25 Rate of compensation increases
8.00 6.50
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. Post-employment health care benefits provisions
The Company provides a post-retirement health care plan for all employees who are already working before November 1, 1995 with a service life of 20 years or older at the time of retirement,
and family members are eligible. The requirement to work for 20 years does not apply to employees who retired prior to June 3, 1995. This program does not apply to employees who
began working at the Company since November 1, 1995 post-retirement health insurance program that is managed by Yakes.
Post-retirement health care plan defined contribution for permanent employees who begin work on or after November 1, 1995, or employees with terms of less than 20 years old at the time of
retirement. Companys contribution payments for the three month period ended March 31, 2016 and for the year ended December 31, 2015, respectively Rp17 billion and Rp15 billion.
The following table presents the change in projected benefits obligation, change in plan assets for post-retirement health, funded status of post-retirement health care benefits, and the net amount
recognized in the statement of financial position of the Company on March 31, 2016 and December 31, 2015:
March 31, 2016 December 31, 2015
Changes in projected pension benefit obligation
Projected pension benefit obligation at beginning of year
10,942 11,505
Service costs 2
49 Net interest cost
248 961 Actuarial losses gain
496 1,187
Eexpected benefits paid 104
386 Projected pension benefit obligation at end of year
11,584 10,942
Changes in pension benefit plan assets
Fair value of plan assets at beginning of year 10,824
11,064 Interest income in profit or loss
245 924 Return on plan assets excluding amount included in
net interest expense 496
647 Expected post-employment health care benefits paid
104 386
Administrative expense paid 41
131 Fair value of plan assets at end of year
11,420 10,824
Funded status 164
118
Provision for pension benefit cost 164
118
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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. Post-employment health care benefits provisions continued
As of March 31, 2016 and December 31, 2015, plan assets consisted of:
March 31, 2016 December 31, 2015
Quoted in active market
Unquoted Quoted in active
market Unquoted
Cash and cash equivalents 779
- 811
- Equity instruments:
Manufacturing consumer goods 556
- 571
- Finance
592 -
566 -
Construction 312
- 301
- Infrastructure and telecommunication
243 -
211 -
Grocery 47
- 70
- Mining
12 -
12 -
Miscellaneous industries: Service
23 -
33 -
Agriculture 28
- 23
- Biotechnology and chemical industry
92 -
6 -
Others 2
- 3
- Equity-based mutual fund
1,186 -
1,129 -
Fixed income instruments: Equity-baesd fixed income
7,359 -
6,837 -
Non-public equity: Direct placement
- 189
- 213
Others -
- -
38
Total 11,231
189 10,573
251
Assets Askes program also includes the placement of Series B shares with a fair value of Rp178 billion and Rp174 billion, which is 1.56 and 1.61 of total assets of the respective program on
March 31, 2016 and December 31, 2015. Expected return is determined based on market expectations for the return of the entire term
liabilities by considering the portfolio mix of plan assets. The actual yield on plan assets was Rp701 billion and Rp147 billion respectively for the three month period ended March 31, 2016 and
for the year ended December 31, 2015.
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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
