PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued JUNE 30, 2012 UNAUDITED AND DECEMBER 31, 2011 AUDITED
AND SIX MONTHS PERIOD ENDED JUNE 30, 2012 AND 2011 UNAUDITED Figures in tables are presented in billions of Rupiah, unless otherwise stated
74
33. PENSION AND OTHER POST-RETIREMENT BENEFITS continued
a. Prepaid pension benefit costs The Company sponsors a defined pension benefit plan 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, 2012 and the year ended December 31, 2011 amounted to Rp.94 billion and Rp.187 billion 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 June 30, 2012 and December 31, 2011, for its defined benefit pension plan:
June 30, December 31,
2012 2011
Change in projected benefits obligation
Projected benefits obligation at beginning of year 16,188
11,924 Service costs
186 307
Interest costs 575
1,105 Plan participants contributions
22 44
Actuarial losses 151
3,391 Expected benefits paid
314 583
Projected benefits obligation at end of period 16,506
16,188
Change in plan assets
Fair value of plan assets at beginning of year 16,597
15,098 Expected return on plan assets
758 1,441
Employer’s contributions 94
187 Plan participants contributions
22 44
Actuarial gains 151
410 Expected benefits paid
314 583
Fair value of plan assets at end of period 17,006
16,597 Funded status
500 409
Unrecognized prior service costs 286
356 Unrecognized net actuarial losses
226 225
Prepaid pension benefit costs 1,012
990
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued JUNE 30, 2012 UNAUDITED AND DECEMBER 31, 2011 AUDITED
AND SIX MONTHS PERIOD ENDED JUNE 30, 2012 AND 2011 UNAUDITED Figures in tables are presented in billions of Rupiah, unless otherwise stated
75
33. PENSION AND OTHER POST-RETIREMENT BENEFITS continued a. Prepaid pension benefit costs
continued The actual return on plan assets was Rp.697 billion and Rp.1,851 billion for six months period
ended June 30, 2012 and the year ended December 31, 2011, respectively.
The movement of the prepaid pension benefit costs during the six months period ended June 30, 2012 and the year ended December 31, 2011, is as follows:
June 30, December 31,
2012 2011
Prepaid pension benefits costs at beginning of year 990
743 Net periodic pension costs benefits less amounts
charged to subsidiaries 66
62 Amounts charged to subsidiaries
under contractual agreements 6
2 Employer’s contributions
94 187
Prepaid pension benefits cost at end of period 1,012
990
As of June 30, 2012 and December 31, 2011, plan assets consisted of :
June 30, December 31,
2012 2011
Indonesian equity securities 27.90
22.13 Government bonds
38.68 39.67
Corporate bonds 17.95
17.37 Others
15.47 20.83
Total 100.00
100.00
Dapen plan assets also include Series B shares issued by the Company with fair value totaling Rp.188 billion and Rp.234 billion representing 1.11 and 1.41 of total assets as of June 30,
2012 and December 31, 2011 respectively, and bonds issued by the Company with fair value totaling Rp.158 billion and Rp.156 billion representing 0.93 and 0.94 of total assets as of
June 30, 2012 and December 31, 2011 respectively.
The actuarial valuation for the defined benefit pension plan and the other post-retirement benefits Note 33b was performed based on the measurement date as of December 31, 2011 and 2010,
with reports dated March 7, 2012 and March 15, 2011 respectively, by PT Towers Watson Purbajaga “TWP”, an independent actuary in association with Towers Watson “TW”. The
principal actuarial assumptions used by the independent actuary as of December 31, 2011 and 2010, are as follows:
