PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Year Ended December 31, 2006 With Comparative Figures For 2005
Expressed in millions of Rupiah, unless otherwise stated
105
42. PENSION AND SEVERANCE continued
Pension Plan continued 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 legalized by the Minister of Finance of the Republic of Indonesia in his decision letters No. KEP-394KM.0171999, No.
KEP- 395KM.0171999, No. KEP-396KM.0171999 and No. KEP-397KM.0171999 dated November 15,
1999. Based on the approval of shareholders No. S-923M-MBU2003 dated March 6, 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 his 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
March 31, 2003. The members of the defined benefit pension plans originated from the legacy banks who have
rendered three or more service years at the time of merger and are comprised of active employees of the Bank, deferred members those whose employment has been terminated but for whom the
beneficial rights were not transferred to other pension plans, and pensioners.
As of December 31, 2006 and 2005, the calculation of the fair value of plan assets and projected benefit obligation is based on the independent actuarial report of PT Dayamandiri Dharmakonsilindo
dated February 23, 2007 and March 2, 2006 for the years ended December 31, 2006 and 2005, respectively. In its calculation, the actuary used the following assumptions:
DPBM I
DPBM II DPBM III
DPBM IV
Discount rate 9.5 per annum
2005 : 12 9.5 per annum
2005 : 12 9.5 per annum
2005 : 12 9.5 per annum
2005 : 12 Expected rate of return on
plan assets 9.5 per annum
2005 : 12 9.5 per annum
2005 : 12 9.5 per annum
2005 : 12 9.5 per annum
2005 : 12 Working period used
As of July 31, 1999 As of July 31, 1999
As of July 31, 1999 As of July 31, 1999
Pensionable salary used As of January 1,
2003, adjusted amount over legacy
banks’ pensionable salary
As of January 1, 2003, adjusted
amount over legacy banks’ pensionable
salary As of January 1,
2003, adjusted amount over legacy
banks’ pensionable salary
As of January 1, 2003, adjusted
amount over legacy banks’ pensionable
salary Expected rates of
pensionable salary increase
Nil Nil Nil
Nil Mortality rate table
CSO-1958 CSO-1958
CSO-1958 CSO-1958
Turnover rate 5 up to
employees’ age of 25 and reducing
linearly by 0.25 for each year up to 0 at
age 45 and thereafter
5 up to employees’ age of
25 and reducing linearly by 0.25
for each year up to 0 at age 45 and
thereafter 5 up to
employees’ age of 25 and reducing
linearly by 0.25 for each year up to 0
at age 45 and thereafter
5 up to employees’ age of
25 and reducing linearly by 0.25
for each year up to 0 at age 45 and
thereafter Disability rate
10 of mortality rate 10 of mortality
rate 10 of mortality rate
10 of mortality rate
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Year Ended December 31, 2006 With Comparative Figures For 2005
Expressed in millions of Rupiah, unless otherwise stated
106
42. PENSION AND SEVERANCE continued
