PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5133 43. SALARIES AND EMPLOYEE BENEFITS continued
31 December 2010 Long-term
Salaries and Bonus
Employment Allowance
Tantiem Benefits
Total
The Board of Commissioners 22,656
18,067 2,719
43,442 Directors
81,389 65,430
7,510 154,329
Audit Committee and Risk Monitoring and Good Corporate Governance Committee
1,467 523
- 1,990
Syariah Supervisory Board 772
- -
772 Executive Vice Presidents and
Senior Vice Presidents 87,696
50,092 15,510
153,298 193,980
134,112 25,739
353,831
44. GENERAL AND ADMINISTRATIVE EXPENSES
2011 2010
Professional fees 1,108,914
675,022 Promotions
929,292 881,846
Rent 864,746
642,728 Repairs and maintenance
631,524 470,854
Communications 577,075
471,894 Depreciation and amortisation of fixed assets Note 17
465,730 448,616
Office supplies 407,006
342,891 Goods and services provided by third parties
400,747 383,873
Electricity, gas and water 343,654
307,704 Transportations
222,711 170,528
Traveling 145,454
108,170 Insurance
60,564 35,598
Others 420,226
528,248 6,577,643
5,467,972
For the year ended 31 December 2011 and 2010, promotions expenses included the sweepstakes prize expense of third party funds amounting to Rp46,247 and Rp47,423.
45. EMPLOYEE BENEFITS
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.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5134 45. EMPLOYEE BENEFITS continued
Pension Plan
Bank Mandiri has five pension plans in the form of Employer Pension Plans DPPK 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 was established on 1 August 1999. The DPBM’s regulations were approved by Minister of Finance of the 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 Minister 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.
Bank Mandiri and the employees contribute 10.00 and 5.00 of the Base Pension Plan Employee Income, respectively.
The Board of Directors 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.
DPBM invests a part of its financial resources in Bank Mandiri time deposits, of which total balance as at 31 December 2011 and 2010 were Rp35,175 and Rp52,100 respectively. The interest rates on
these time deposits are given on arms-length basis.
For the years ended 31 December 2011 and 2010, the Bank paid pension contributions amounting to Rp200,629 and Rp176,282, 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 Minister 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 Minister 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 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 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 Minister 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.
Based on the approval of the General Meeting of Shareholders AGM on 17 May 2010, Bank Mandiri raise the retirement benefits of each pension fund. Decision to increase pension benefits set
forth in the Regulation of Pension Fund respectively and has been approved by the Minister of Finance Decree No. KEP-441KM.102010
dated 10 August 2010 DPBMS; No. KEP- 442KM.102010 dated August 10, 2010 DPBMD; No. KEP-443KM.102010 dated 10 August 2010
DPBMT and No. KEP-444KM.102010 dated 10 August 2010 DPBME.