Pension Fund EMPLOYEE BENEFITS LIABILITIES

AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 114 - Asumsi aktuarial utama yang digunakan untuk menentukan estimasi liabilitas imbalan kerja karyawan dalam program imbalan pasti pada tanggal 31 Maret 2016 dan 31 Desember 2015 adalah sebagai berikut: The principal actuarial assumptions used to estimate liabilities for employee benefits under defined benefits plans as at March 31, 2016 and December 31, 2015 are as follows: 31 Maret 2016 March 31, 2016 31 Desember 2015 December 31, 2015 Unaudited Audited Tabel Mortalita Indonesia 2011 TMIII Tabel Mortalita Indonesia 2011 TMIII Tingkat mortalita Indonesia Mortality Table 2011 TMIII Indonesia Mortality Table 2011 TMIII Mortality rate Usia pensiun normal 56 tahunyears 56 tahunyears Normal retirement age Tingkat cacat 10 dari tingkat mortalita 10 dari tingkat mortalita Disability rate of mortality rate of mortality rate Tingkat kenaikan gaji: Rate of salary increase: Program pensiun 7,5 per tahunper annum 7,5 per tahunper annum Pension plan Imbalan kerja lainnya 10 per tahunper annum 10 per tahunper annum Other employee benefits Tingkat diskonto tahunan 9 per tahunper annum 9 per tahunper annum Annual discount rate Tingkat pengembalian Expected return on plan investasi 9 per tahunper annum 9 per tahunper annum assets 1 ST: 0,5 untuk 1 ST: 0,5 untuk umur di bawah 30 tahun umur di bawah 30 tahun dan menurun secara linear dan menurun secara linear Tingkat pengunduran diri sampai 0 pada umur 44 tahun sampai 0 pada umur 44 tahun Voluntary resignation rate SP: 54 tahun 1 ST: 0,5 SP: 54 tahun 1 ST: 0,5 at less than 30 years of age at less than 30 years of age and reducing linearly to 0 and reducing linearly to 0 at 44 SP: 54 years years of age at 44 SP: 54 years years of age Aset dana pensiun terutama terdiri dari deposito berjangka, surat-surat berharga dan investasi jangka panjang dalam bentuk saham, reksadana, obligasi, tanah dan bangunan. Pension fund assets mainly consist of time deposits, marketable securities, and long-term investments in shares of stock, mutual funds, bonds and land and buildings. Tingkat pengembalian investasi yang diharapkan atas aset program ditentukan berdasarkan ekspektasi pasar pada tanggal pelaporan, berlaku untuk periode saat kewajiban diselesaikan. The expected rate of return on plan assets is determined based on the market expectations prevailing on that date, applicable to the period over which the obligation is to be settled. AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 115 - Imbalan Pensiun Pension Benefits Beban imbalan kerja yang dibebankan pada laporan laba rugi dan penghasilan komprehensif lain konsolidasian merupakan jumlah neto dari: Amounts recognized in the consolidated statement of profit or loss and other comprehensive income consists of the net total of the following amounts: 31 Maret 31 Desember March 31, December 31, 2016 2015 Unaudited Audited Biaya jasa kini 10.608.734 32.455.103 Current service cost Biaya bunga neto 5.445.203 12.249.045 Net interest cost Bunga atas dampak atas aset 954.566 3.818.265 Interest on the effect of the asset ceiling Penyesuaian 186.848 1.557.901 Adjustment Komponen dari biaya imbalan pasti Components of defined benefit costs yang diakui dalam laba rugi 17.195.351 50.080.314 recognized in profit or loss Pengukuran kembali liabilitas Remeasurement on the net imbalan pasti - neto: defined benefit liability: Perubahan dampak batas atas aset, Change in the effect of the asset ceiling tidak termasuk bunga neto 3.867.712 38.677.123 excluding amount of net interest expe Keuntungan dan kerugian aktuarial yang timbul dari perubahan Actuarial gains and losses arising from asumsi keuangan 4.272.818 48.463.015 changes in financial assumptions Keuntungan dan kerugian aktuarial yang timbul dari penyesuaian Actuarial gains and losses arising from atas pengalaman 9.648.991 74.729.758 experience adjustment Imbal hasil aset program tidak termasuk jumlah yang dimasukkan Return on plan assets excluding amou dalam beban bunga neto 24.120.159 132.926.933 included in net interest expense Komponen beban imbalan pasti Components of defined benefit costs yang diakui dalam penghasilan recognised in other comprehensive komprehensif lain 6.330.638 120.516.553 income Jumlah 23.525.989 170.596.867 Total AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 116 - Liabilitas neto imbalan kerja yang diakui di laporan posisi keuangan konsolidasian adalah sebagai berikut: The net liability for employee benefits recognized in the consolidated statements of financial position is as follows: 31 Maret 31 Desember March 31, December 31, 2016 2015 Unaudited Audited Nilai kini dari kewajiban 2.004.661.835 1.978.492.347 Present value of the obligations Nilai wajar aset 1.649.789.075 1.663.938.275 Fair value of plan assets Defisit 354.872.760 314.554.072 Deficit Batasan atas aset yang diakui 10.269.445 11.705.348 Restriction on asset recognized Liabilitas bersih 365.142.205 326.259.420 Net liability Mutasi nilai kini liabilitas imbalan adalah sebagai berikut: Movements of the present value of defined benefits obligations is as follows: 31 Maret 31 Desember March 31, December 31, 2016 2015 Unaudited Audited Nilai kini liabilitas imbalan Present value of the benefit pada 1 Januari 1.978.679.195 1.871.233.632 obligations January 1, Biaya jasa kini 18.767.183 32.455.103 Current service cost Biaya bunga 41.166.965 153.546.283 Interest cost Imbalan dana pensiun yang dibayarkan 21.071.490 110.462.526 Pension benefits paid Iuran peserta 1.041.792 5.453.112 Participant contributions Keuntungan aktuaria pada liabilitas Gains on actuarial liabilities - Keuntungan kerugian aktuaria - Actuarial gains losses from dari perubahan asumsi keuanga 4.272.818 48.463.015 change in financial assumption - Keuntungan kerugian aktuaria - Actuarial gains losses from dari penyesuaian 9.648.992 74.729.758 experience adjustments Nilai kini liabilitas imbalan Present value of the benefit pada 31 Maret 2.004.661.835 1.978.492.347 obligation at March 31, AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 117 - Perubahan dalam nilai wajar aset program adalah sebagai berikut: Changes in the fair value of plan assets are as follows: 31 Maret 31 Desember March 31, December 31, 2016 2015 Unaudited Audited Nilai wajar aset program pada 1 Januari 1.663.938.275 1.723.156.881 Fair value of plan assets at January 1, Pendapatan bunga 44.874.553 141.297.238 Interest income Kontribusi pemberi kerja 11.610.956 37.365.090 Employer contributions Kontribusi peserta 1.041.792 5.453.112 Participant contributions Pembayaran manfaat 21.058.261 110.407.113 Benefits paid Pengukuran kembali keuntungankerugian: Remeasurement gainloss: Keuntungankerugian aktuaria Gainslosses on plan assets pada aset program 50.618.240 132.926.933 actuarial Nilai wajar aset program Fair value of plan assets pada 31 Maret 1.649.789.075 1.663.938.275 at March 31, Kategori utama aset program sebagai persentase dari nilai wajar jumlah aset program adalah sebagai berikut: The major categories of plan assets as a percentage of the fair value of the total plan assets are as follows: 31 Maret 31 Desember March 31, December 31, 2016 2015 Unaudited Audited Surat Berharga Negara 5 5 Government Bonds Kas dan deposito 19 20 Cash and time deposit Saham 8 9 Stocks Obligasi 21 21 Bonds Reksadana 12 12 Mutual funds Tanah dan bangunan 12 12 Land and buildings Penempatan langsung 22 21 Direct placement Imbalan kerja lainnya Other employee benefits Beban imbalan kerja lainnya yang dibebankan pada laporan laba rugi dan penghasilan komprehensif lain konsolidasian merupakan jumlah bersih dari: Other employee benefits expenses recognized in the consolidated statements of profit or loss and other comprehensive income consists of the net total of the following amounts: AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 118 - 31 Maret 31 Desember March 31, December 31, 2016 2015 Unaudited Audited Biaya jasa kini 7.354.558 42.887.078 Current service cost Biaya bunga 4.010.485 20.904.453 Interest cost Past service cost and gain loss Biaya jasa lalu yang belum diakui 9.833.804 36.002.161 from settlements Pengukuran kembali liabilitas aset Remeasurement of the net liabilities imbalan jangka panjang lainnya 233.229 2.368.896 aset of other long-term benefits Komponen dari biaya imbalan pasti Components of defined benefit costs yang diakui dalam laba rugi 20.965.618 97.424.796 recognised in profit or loss Pengukuran kembali liabilitas Remeasurement on the net imbalan pasti - neto defined benefit liability: Keuntungan dan kerugian aktuarial yang timbul dari perubahan Actuarial gains and losses arising from asumsi keuangan 4.677.156 48.776.897 changes in financial assumptions Keuntungan dan kerugian aktuarial yang timbul dari penyesuaian Actuarial gains and losses arising from atas pengalaman 7.057.247 11.747.325 experience adjustment Komponen beban imbalan pasti Components of defined benefit costs yang diakui dalam penghasilan recognised in other comprehensive komprehensif lain 2.380.092 37.029.572 income Jumlah 23.345.710 60.395.224 Total Mutasi nilai kini kewajiban imbalan adalah sebagai berikut: Movements of the present value of defined benefit obligations is as follows: 31 Maret 31 Desember March 31, December 31, 2016 2015 Unaudited Audited Nilai kini kewajiban imbalan Present value of the benefit pada 1 Januari 279.362.286 251.575.252 obligations January 1, Biaya jasa kini 7.354.558 42.887.078 Current service cost Biaya jasa lalu, termasuk kerugian Past service cost and losses gains keuntungan dari kurtailmen 9.833.804 36.002.161 from settlements Biaya bunga 4.010.485 20.904.453 Interest cost Pembayaran manfaat 30.880.221 32.608.190 Benefits payment Keuntungan dan kerugian aktuarial Actuarial gains and losses arising from yang timbul dari liabilitas lain-lain 273.922 2.368.896 other long-term benefits Pengukuran kembali liabilitas Remeasurement on the net imbalan pasti - neto: defined benefit liability: Keuntungan dan kerugian aktuarial yang timbul dari perubahan Actuarial gains and losses arising from asumsi keuangan 3.615 48.776.897 changes in financial assumptions Keuntungan dan kerugian aktuarial yang timbul dari penyesuaian Actuarial gains and losses arising from atas pengalaman 7.057.247 11.747.325 experience adjustment Nilai kini kewajiban imbalan Present value of the benefit pada 31 Maret 277.008.466 279.362.286 obligation March 31, AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 119 - Perubahan satu poin persentase asumsi tingkat diskonto akan memiliki efek sebagai berikut: A one percentage point change in the assumed discount rate would have the following effects: Kenaikan Penurunan Increase Decrease Pengaruh keseluruhan biaya Effect on the aggregate current jasa 33.331.903 39.005.567 service cost Pengaruh kewajiban Effect on the employee imbalan kerja 1.327.721.879 1.399.610.072 benefit liabilities Riwayat penyesuaian adalah sebagai berikut: The history of experience adjustment is as follows: 31 Maret 31 Desember 31 Desember 31 Desember 31 Desember March 31, December 31, December 31, December 31, December 31, 2016 2015 2014 2013 2012 Unaudited Audited Audited Audited Audited Dana Pensiun Pension benefits Nilai kini kewajiban imbalan 2.004.661.835 1.978.492.347 1.871.233.632 1.634.731.827 1.670.034.700 Present value of the obligation Aset program 1.649.789.075 1.663.938.275 1.723.156.881 1.737.531.225 1.376.813.999 Fair value of plan assets Surplus Defisit 354.872.760 314.554.072 148.076.751 102.799.398 293.220.701 Surplus Deficit Penyesuaian liabilitas Experience adjustments program 9.648.992 74.729.758 33.505.625 11.426.610 45.706.441 on liabilities Penyesuaian aset Experience adjustments program 50.618.240 132.926.933 13.584.461 5.232.377 20.929.509 on plan liabilities Manfaat Lainnya Other employee benefits Nilai kini kewajiban imbalan 277.008.466 279.362.286 251.575.251 220.811.946 240.134.500 Present value of the obligation Penyesuaian liabilitas Experience adjustments program 7.057.247 11.747.325 1.504.001 - 9.124.821 on liabilities b. Program tunjangan kesejahteraan hari tua b. Old-age benefit program Perseroan dan entitas anak SP dan ST memberikan imbalan pascakerja dalam bentuk Program Tunjangan Kesejahteraan Hari Tua TKHT bekerja sama dengan Asuransi Jiwa Bersama Bumiputera 1912 AJB BP. Berdasarkan perjanjian kerja sama tersebut, Perseroan dan entitas anak SP dan ST membayar premi asuransi kepada AJB BP masing-masing sebesar 5, 8 dan 10 dari gaji dasar asuransi karyawan, dimana tingkat kenaikan tahunan gaji dibatasi maksimum sebesar 7,5 per tahun 7 per tahun untuk ST. AJB BP harus membayar manfaat program tersebut kepada karyawan yang berhak atau kepada tanggungan mereka pada saat karyawan mencapai usia 56 tahun, mengundurkan diri, atau meninggal atau cacat berdasarkan perkalian tertentu dari gaji dasar asuransi pada saat manfaat program tersebut terutang. The Company and its subsidiaries SP and ST provide post-employment benefits under old- age benefit programs. The Company and its subsidiaries SP and ST have entered into agreements with Asuransi Jiwa Bersama Bumiputera 1912 AJB BP under which the Company and its subsidiaries SP and ST pay insurance premiums to AJB BP at rates of 5, 8 and 10, respectively, of employees’ insurable salaries, which salaries are subject to a maximum annual increase of 7.5 per annum 7 per annum for ST. AJB BP is obligated to pay program benefits to eligible employees or their dependants upon employees attaining 56 years of age, upon resignation, or in event of death or disability of the employees, based on specified multiples of employees’ insurable salaries at the time benefits are due to be paid. AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2016 AND 2015 Expressed in thousands of Rupiah, unless otherwise stated Continued - 120 - Jumlah beban sehubungan dengan program ini untuk periode yang berakhir pada tanggal- tanggal 31 Maret 2016 dan 31 Desember 2015 masing-masing sebesar Rp4.236.864 dan Rp9.071.474. The total expense in relation to these programs during the period ended March 31, 2016 and December 31, 2015 amounted to Rp4,236,864 and Rp9,071,474 respectively. Nilai kini kewajiban dan nilai wajar kekayaan atas program tersebut pada tanggal 31 Maret 2016 dan 31 Desember 2015, Rp224.418.295, Rp131.743.352 dan Rp263.790.569, Rp131.700.274. Perseroan dan SP tidak mengakui liabilitas atas selisih nilai kini kewajiban dengan nilai wajar kekayaan karena manajemen Perseroan dan SP berkeyakinan AJB BP akan dapat memenuhi kewajiban tersebut pada saat jatuh tempo. The present value of the obligations and the fair value of the assets relating to these programs as of March 31, 2016 and December 31, 2015 Rp224,418,295, Rp131,743,352 and Rp263,790,569, Rp131,700,274, respectively. The Company and SP do not recognize any liabilities corresponding to the amount of the program assets, since management of the Company and SP believe that AJB BP will be able to fulfill its obligations under these programs on the due dates. Pada tanggal 31 Maret 2016 dan 31 Desember 2015, saldo liabilitas TKHT ST masing-masing sebesar Rp47.990.591 dan Rp47.990.591. As of March 31, 2016 and December 31, 2015, the outstanding balance of old-age employee benefits obligation ST amounted to Rp47,990,591 and Rp47,990,591, respectively.

c. Program bantuan pemeliharaan kesehatan purnakarya

c. Pensioners health care assistance program

Perseroan dan entitas anak SP memberikan imbalan pascakerja dalam bentuk Program Bantuan Pemeliharaan Kesehatan Purnakarya “BPKP” untuk karyawan tetap bekerja sama dengan AJB BP. Perseroan dan SP membayar premi bulanan kepada AJB BP masing-masing sebesar 4,5 dari gaji dasar asuransi karyawan, dimana tingkat kenaikan tahunan gaji dasar asuransi tersebut dibatasi maksimum sebesar 7,5 pertahun. AJB BP harus membayar manfaat program tersebut setiap tahun kepada karyawan yang berhak selama peserta masih hidup setelah karyawan mencapai usia 56 tahun, mengundurkan diri, meninggal atau cacat berdasarkan perkalian tertentu dari gaji dasar asuransi pada saat manfaat program tersebut terutang. The Company and its subsidiary SP provide post-employment benefits under a pensioners’ health care assistance program for its permanent employees. The Company and SP entered into an agreement with AJB BP under which the Company and SP pays monthly insurance premiums to AJB BP at the rate of 4.5 of employees’ insurable salaries, which are subject to a maximum annual increase of 7.5 per annum. AJB BP is obligated to pay annual program benefits to eligible employees during their remaining lives upon employees attaining 56 years of age, upon resignation, or in event of death or disability of the employees, based on specified multiplies of employees’ insurable salaries at the time benefits are due to be paid. Total beban sehubungan dengan program ini untuk periode yang berakhir pada tanggal 31 Maret 2016 dan 31 Desember 2015 masing- masing sebesar Rp358.588 and Rp1.445.946. The total expense in relation to this program for the period ended March 31, 2016 and December 31, 2015 amounted to Rp358,588 and Rp1,445,946, respectively. Perseroan dan SP tidak mengakui liabilitas atas selisih nilai kini kewajiban dengan nilai wajar kekayaan karena manajemen Perseroan dan SP berkeyakinan AJB BP akan dapat memenuhi kewajiban tersebut pada saat jatuh tempo. The Company and SP has not recognized any excess of the liabilities corresponding to the amount of the fair value of program assets, since the management of the Company and SP believes that AJB BP will be able to fulfill its obligations under this program on the due dates.