PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5127 42. SALARIES AND EMPLOYEE BENEFITS continued
31 December 2009 Number of
Members Officers
Salaries Allowances
Bonuses Total
The Board of Commissioners 6
7,425 6,630
12,837 26,892
Directors 11
27,571 17,514
48,001 93,086
Audit Committee 2
776 188
274 1,238
Risk Monitoring Committee 1
282 61
103 446
Good Corporate Governance Committee
1 -
- 103
103 Executive Vice Presidents and
Senior Vice Presidents 46
31,144 16,203
19,881 67,228
67 67,198
40,596 81,199
188,993
Includes Anwar Isham for period January until December 2008.
31 December 2008 Number of
Members Officers
Salaries Allowances
Bonuses Total
The Board of Commissioners 8
5,940 4,307
9,301 19,548
Directors 12
26,842 16,284
36,229 79,355
Audit Committee 2
755 277
215 1,247
Risk Monitoring Committee 1
253 58
76 387
Good Corporate Governance Committee
1 253
58 76
387 Executive Vice Presidents and
Senior Vice Presidents 48
25,955 10,864
11,132 47,951
72 59,998
31,848 57,029
148,875
Includes Richard Claproth from January until May 2008, Yap Tjay Soen from January until March 2008 and Mahmuddin Yasin since June 2008.
Includes Omar S, Anwar from January until May 2008 and Ogi Prastomiyono since June 2008.
For the year ended 31 December 2009 and 2008, there are 4 four Committees under the Board of Comissioners, where all the members of 1 one Committee are Commissioners, whilst each of the other 3
three Committees have non-Commissioners members which are 2 two members of Audit Committees and 1 one member of Risk Monitoring Committee and 1 one member of Good Corporate Governance
Committee.
43. GENERAL AND ADMINISTRATIVE EXPENSES
2010 2009
2008
Promotions 881,846
647,882 514,760
Professional fees 675,022
513,460 428,124
Rent 642,728
543,754 510,997
Communications 471,894
412,107 379,456
Repairs and maintenance 470,854
381,447 329,311
Depreciation and amortisation of fixed assets Note 16 448,616
446,079 573,105
Office supplies 342,891
271,404 197,412
Goods and services provided by third parties 383,873
260,096 215,984
Electricity, gas and water 307,704
260,475 226,337
Transportations 170,528
125,933 114,108
Others 672,016
462,256 372,090
5,467,972 4,324,893
3,861,684
For the year ended 31 December 2010, promotions expenses included the sweepstakes prize expense of third party funds amounting to Rp47,423 Note 36.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5128 44. 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.
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. As a
consequence, transactions between the DPBM and Bank Mandiri are considered as related party transactions. DPBM invests a part of its financial resources in Bank Mandiri time deposits, of which
total balance as at 31 December 2010, 2009 and 2008 were Rp52,100, Rp25,500 and Rp36,500 respectively. The interest rates on these time deposits are given on arms-length basis.
The Bank paid pension contributions totaling Rp176,282, Rp162,587 and Rp154,830 respectively, for the years ended 31 December 2010, 2009 and 2008, 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.
