PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5109 41. SALARIES AND EMPLOYEE BENEFITS continued
2007 Number of
Members Officers
Salaries Allowances
Bonuses Total
The Board of Commissioners 7
5,257 3,605
4,515 13,377
Directors 11
21,343 10,429
- 31,772
Audit committee 2
755 145
185 1,085
Risk Monitoring Committee 1
253 55
52 360
Good Corporate Governance Committee
1 253
54 69
376 Executive Vice Presidents and
Senior Vice President 47
18,668 10,668
8,670 38,006
69 46,529
24,956 13,491
84,976
There are 4 four Committees under the Board of Comissioners, where the members of the 2 two are Commissioners while the other 2 two Committees, each have members which are not Commissioners
which are 2 two members of Audit Committees and 1 one member of Risk Monitoring Committee.
42. GENERAL AND ADMINISTRATIVE EXPENSES
2009 2008
2007
Promotions 647,882
514,760 419,835
Rent 543,754
510,997 466,808
Professional fees 513,460
428,124 338,147
Depreciation and amortisation of fixed assets Note 15 446,079
573,105 583,877
Communications 412,107
379,456 376,893
Repairs and maintenance 381,447
329,311 297,788
Office supplies 271,404
197,412 179,641
Electricity, water and gas 260,475
226,337 208,762
Transportations 125,933
114,108 96,192
Goods and services provided by third parties 260,096
215,984 179,792
Others 462,256
372,090 274,048
4,324,893 3,861,684
3,421,783
43. PENSION AND SEVERANCE
Under the Bank’s policy, in addition to salaries, employees are entitled to allowances and benefits, such as yearly allowance THR, pre-retirement MBT allowance, medical reimbursements, death allowance,
leave allowance, functional allowance for certain levels, pension plan for permanent employees, incentives based on employee’s and the Bank’s performance, and post-employment benefits in
accordance with prevailing Labor Law.
Pension Plan
Bank Mandiri has five pension plans in the form of Employer Pension Plans as follows: a.
One defined contribution pension plan, Dana Pensiun Pemberi Kerja Program Pensiun Iuran Pasti DPPK-PPIP or Bank Mandiri Pension Plan Dana Pensiun Bank Mandiri DPBM established on 1
August 1999. The DPBM’s regulations were approved by Ministry of Finance of Republic of Indonesia through its decision letter No. KEP300KM.0171999 dated 14 July 1999 and was
published in supplement of the State Gazette of the Republic of Indonesia No. 62 dated 3 August 1999 and Bank Mandiri’s Directors’ Resolution No. 004KEP.DIR1999 dated 26 April 1999
and were amended based on the Ministry of Finance of the Republic of Indonesia’s decision letter No. KEP-213KM.52005 dated 22 July 2005 and was published in the supplement of the
State Gazette of the Republic of Indonesia No. 77 dated 27 September 2005 and Bank Mandiri’s Directors’ Resolution No. 068KEP.DIR2005 dated 28 June 2005.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5110 43. PENSION AND SEVERANCE continued
Pension Plan continued
a. Bank Mandiri and the employees contribute 10.00 and 5.00 of the Base Pension Plan
Employee Income, respectively. The President Director and the members of the Supervisory Board of the DPBM are active
employees of Bank Mandiri; therefore, in substance, Bank Mandiri has control over the DPBM. As a consequence, transactions between the DPBM and Bank Mandiri are considered related party
transactions. The DPBM invests a part of its financial resources in Bank Mandiri time deposits, which balances as at 31 December 2009, 2008 and 2007 were Rp25,500, Rp35,500 and Rp10,000,
respectively. The interest rates on these time deposits are at arms-length.
The Bank paid pension contributions totaling Rp162,587, Rp154,830 and Rp129,470, respectively, for the years ended 31 December 2009, 2008 and 2007, respectively.
b. Four employer defined benefit pension plans, Dana Pensiun Pemberi Kerja Program Pensiun
Manfaat Pasti DPPK-PPMP are derived from the respective pension plans of the Merged Banks, namely Dana Pensiun Bank Mandiri Satu or DPBM I BBD, DPBM II BDN, DPBM III Bank Exim
and DPBM IV Bapindo. The regulations of the respective pension plans were approved by the Ministry of Finance of the Republic of Indonesia’s through its decision letters No. KEP-
394KM.0171999,
No. KEP-395KM.0171999, No. KEP-396KM.0171999
and No. KEP-
397KM.0171999 all dated 15 November 1999. Based on the approval of shareholders No. S- 923M-MBU2003 dated 6 March 2003, Bank Mandiri has adjusted pension benefits for each
Pension Fund. Such approval has been incorporated in each of the Pension Fund’s Regulations Peraturan Dana Pensiun PDP which have been approved by the Ministry of Finance of the
Republic of Indonesia based on its decision letters No. KEP115KM.62003 for PDP DPBM I, No. KEP116KM.62003 for PDP DPBM II, No. KEP117KM.62003 for PDP DPBM III, and
No. KEP118KM.62003 for PDP DPBM IV, all dated 31 March 2003.
The members of the defined benefit pension plans are the employees from the legacy banks who have rendered three or more services years at the time of merger and are comprise of active
employees of the Bank, former employee those who have resigned and did not transfer their beneficial right to other pension plan and pensioners.
Based on the decision of the Annual General Shareholders’ Meeting dated 28 May 2007, Bank Mandiri increased the pension benefit from each of the Pension Plans. The decision was stated in
each Pension Plan Regulation and has been approved by the Ministry of Finance of the Republic of Indonesia with decision letter No. KEP-144KM.102007 DPBM I; No. KEP-145KM.102007 DPBM
II; No. KEP-146KM.102007 DPBM III and No. KEP-147KM.102007 DPBM IV all dated 20 July 2007.
As at 31 December 2009, 2008 and 2007, a pension benefit obligation have been provided based on the calculation obligation and pension benefit cost for the years ended 31 December 2009,
2008, 2007 is based on the independent actuarial report of PT Eldridge Gunaprima Solution dated 25 January 2010 and 30 January 2009 for the years ended 31 December 2009 and 2008 and
PT Dayamandiri Dharmakonsilindo dated 31 January 2008 for the years ended 31 December 2007, respectively, in its calculation the actuary used the following assumptions:
