Dana Pensiun Pension Fund

Assuring the Move Into Next Level 523 Corporate Governance Implementation Report Corporate Social Responsibility Report Corporate Data Management Discussion and Analysis Financial Statements PT SEMEN INDONESIA PERSERO Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013 Expressed in thousands of Rupiah, unless otherwise stated Continued - 109 - Perubahan dalam nilai wajar aset program adalah sebagai berikut: Changes in the fair value of plan assets are as follows: 2014 2013 Nilai wajar aset program pada 1 Januari 1.627.186.566 1.376.813.999 Fair value of plan assets at January 1, Imbal hasil ekspektasian aset program 146.381.637 123.258.005 Expected return Iuran oleh pemberi kerja 31.519.323 50.289.249 Contributions by employer Iuran oleh peserta program 5.352.173 3.130.911 Contributions by employee Imbalan yang dibayarkan 101.065.384 98.089.283 Benefits paid Penyesuaian program manfaat - 6.556.671 Adjustment in benefit program Keuntungan aktuaria pada aset program 13.782.566 178.340.356 Actuarial gain on plan asset Nilai wajar aset program Fair value of plan assets pada 31 Desember 1.723.156.881 1.627.186.566 at December 31, Kategori utama aset program sebagai persentase dari total 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: 2014 2013 Surat Berharga Negara 8 7 Government Bonds Kas dan deposito 18 16 Cash and time deposit Saham 19 6 Stocks Obligasi 35 25 Bonds Reksadana 15 35 Mutual funds Tanah dan bangunan 5 12 Land and buildings Imbal hasil aktual aset program selama 31 Desember 2014 dan 2013 masing-masing adalah sebesar Rp146.381.637 dan Rp179.908.141. Actual investment income on plan assets during December 31, 2014 and 2013 amounted of Rp146,381,637 and Rp179,908,141 respectively. Imbalan kerja lainnya Other employee benefits Beban imbalan kerja yang dibebankan pada laporan laba rugi komprehensif konsolidasian merupakan jumlah bersih dari: Other employee benefits expense recognized in the consolidated statement of comprehensive income consists of the net total of the following amounts: 2014 2013 Biaya jasa kini 39.351.848 34.770.316 Current service cost Biaya bunga 19.813.010 15.348.300 Interest cost Amortisasi dari: Amortization of: - Kerugian aktuarial yang belum diakui 7.034.436 1.464.953 - Unrecognized actuarial loss - Biaya jasa lalu yang belum diakui 1.682.878 348.176 - Unrecognized past service cost Keuntungan aktuaria - 14.777.636 Actuarial gain - Beban 67.882.172 34.224.203 Expense Liabilitas neto imbalan kerja lainnya yang diakui di laporan posisi keuangan konsolidasian adalah sebagai berikut: The net liability for other employee benefits obligations recognized in the consolidated statements of financial position is as follows: 2014 2013 Nilai kini dari kewajiban 251.361.367 233.127.991 Present value of obligation Kerugian aktuarial yang belum diakui 14.917.146 419.534 Unrecognized actuarial losses Biaya jasa lalu yang belum diakui 2.959.702 16.055.801 Unrecognized past service cost Liabilitas neto 233.484.519 216.652.656 Net liability Assuring the Move Into Next Level 524 Business Development Report Management Reports Company Information Information For Investors Operational Review PT SEMEN INDONESIA PERSERO Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013 Expressed in thousands of Rupiah, unless otherwise stated Continued - 110 - Mutasi nilai kini kewajiban imbalan adalah sebagai berikut: Movements of the present value of benefit obligations is as follows: 2014 2013 Nilai kini kewajiban imbalan Present value of the benefit pada 1 Januari 233.127.991 240.134.500 obligations January 1, Biaya jasa kini 39.351.848 34.770.316 Current service cost Biaya bunga 19.813.010 15.348.300 Interest cost Imbalan dana pensiun yang dibayarkan 42.801.485 20.181.087 Pension benefits paid Iuran peserta 1.099 - Participant contributions Kerugian aktuaria 493.918 48.322.627 Actuarial loss Perubahan program 1.374.986 22.856.403 Change in program Lainnya - 11.477.814 Others Nilai kini kewajiban imbalan Present value of the benefit pada 31 Desember 251.361.367 233.127.991 obligation December 31, 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 65.670.443 72.763.953 service cost Pengaruh kewajiban Effect on the employee imbalan kerja 2.045.314.211 2.150.086.220 benefit liabilities Riwayat penyesuaian adalah sebagai berikut: The history of experience adjustment is as follows: 2014 2013 2012 2011 2010 Dana Pensiun Pension benefits Nilai kini kewajiban imbalan 1.869.133.351 1.622.721.187 1.670.034.700 1.504.118.573 1.359.155.529 Present value of the obligation Aset program 1.723.156.881 1.627.186.566 1.376.813.999 1.235.416.127 1.154.484.841 Fair value of plan assets Surplus Defisit 145.976.470 4.465.379 293.220.701 268.702.446 204.670.688 Surplus Deficit Penyesuaian liabilitas Experience adjustments program 34.549.039 11.426.610 45.706.441 2.624.237 2.354.074 on liabilities Penyesuaian aset Experience adjustments program 8.766.633 5.232.377 20.929.509 74.753 41.330.125 on plan liabilities Manfaat Lainnya Other employee benefits Nilai kini kewajiban imbalan 251.361.367 233.127.991 240.134.500 225.075.615 171.460.300 Present value of the obligation Penyesuaian liabilitas Experience adjustments program 2.865.770 - 9.124.821 5.347.514 6.958.398 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. Assuring the Move Into Next Level 525 Corporate Governance Implementation Report Corporate Social Responsibility Report Corporate Data Management Discussion and Analysis Financial Statements PT SEMEN INDONESIA PERSERO Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013 Expressed in thousands of Rupiah, unless otherwise stated Continued - 111 - Utang premi asuransi pada tanggal 31 Desember 2014 dan 2013 masing-masing sebesar Rp3.178.720 dan Rp1.914.794. Insurance premiums payable as of December 31, 2014 and 2013 amounted to Rp3,178,720 and Rp1,914,794, respectively. Jumlah beban sehubungan dengan program ini untuk tahun yang berakhir pada tanggal-tanggal 31 Desember 2014 dan 2013 masing-masing sebesar Rp12.976.714 dan Rp6.830.864. The total expense in relation to these programs during the years ended December 31, 2014 and 2013 amounted to Rp12,976,714 and Rp6,830,864, respectively. Nilai kini kewajiban dan nilai wajar kekayaan atas program tersebut pada tanggal 31 Desember 2014 dan 2013, Rp224.710.220, Rp126.834.877 dan Rp214.940.513, Rp161.386.206. 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 December 31, 2014 and 2013 Rp224,710,220, Rp126,834,877 and Rp214,940,513, Rp161,386,206, respectively. The Company and SP do not recognize any liabilities corresponding to the amount of the program assets, since management of the Company and its subsidiaries believe that AJB BP will be able to fulfill its obligations under these programs on the due dates. Pada tanggal 31 Desember 2014 dan 2013, ST mengakui penambahan provisi untuk imbalan kerja masing-masing sebesar Rp36.388.468 dan Rp13.296.107. As of December 31, 2014 and 2013, ST recognized additional provision for employee benefits amounting to Rp36,388,468 and Rp13,296,107, 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 ka ryawan tetap bekerja sama dengan AJB BP. Perseroan 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 provides post-employment benefits under a pensioners’ health care assistance program for its permanent employees. The Company entered into an agreement with AJB BP under which 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. Tidak terdapat utang premi asuransi pada tanggal 31 Desember 2014 dan 2013. There were no insurance premiums payable as of December 31, 2014 and 2013. Total beban sehubungan dengan program ini untuk tahun yang berakhir pada tanggal 31 Desember 2014 dan 2013 masing-masing sebesar Rp1.541.719 and Rp1.690.037. The total expense in relation to this program for the years ended December 31, 2014 and 2013 amounted to Rp1,541,719 and Rp1,690,037, 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 liabilities corresponding to the amount of the 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. Assuring the Move Into Next Level 526 Business Development Report Management Reports Company Information Information For Investors Operational Review PT SEMEN INDONESIA PERSERO Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013 Expressed in thousands of Rupiah, unless otherwise stated Continued - 112 - d. Program kesejahteraan karyawan d. Employee welfare program Entitas anak SP memberikan imbalan pascakerja dalam bentuk Program Kesejahteraan Karyawan untuk karyawan tetap bekerja sama dengan AJB BP. Berdasarkan perjanjian kerja sama tersebut, SP membayar premi bulanan kepada AJB BP sebesar 3 dari gaji dasar asuransi karyawan, dimana kenaikan tingkat kenaikan gaji dasar asuransi tersebut dibatasi maksimum sebesar 7,5 pertahun. AJB BP harus membayar manfaat program tersebut kepada karyawan yang berhak atau kepada tanggungan mereka pada saat karyawan mencapai usia 56 tahun, mengundurkan diri, meninggal atau cacat berdasarkan perkalian tertentu dari gaji dasar asuransi pada saat manfaat program tersebut terutang. Manajemen SP berkeyakinan AJB BP akan dapat memenuhi kewajiban tersebut pada saat jatuh tempo. The Company’s subsidiary SP provides post- employment benefits under an employee welfare program for its permanent employees which are covered under an agreement with AJB BP. SP pays monthly insurance premiums to AJB BP at the rate of 3 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 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. SP management believes that AJB BP will be able to fulfill its obligations under this program on the due dates. Tidak terdapat utang premi asuransi pada tanggal 31 Desember 2014 dan 2013. There were no insurance premiums payable as of December 31, 2014 and 2013. Total beban sehubungan dengan program ini untuk tahun yang berakhir pada tanggal 31 Desember 2014 dan 2013 masing-masing sebesar Rp903.745 dan Rp1.003.665. The total expense in relation to this program during the period ended December 31, 2014 and 2013 amounted to Rp903.745 and Rp1,003,665, respectively. Nilai kini kewajiban dan nilai wajar kekayaan atas program tersebut pada tanggal 31 Desember 2014 dan 2013 Rp11.097.480, Rp12.026.860 dan Rp11.452.659, Rp12.477.128. SP tidak mengakui liabilitas atas selisih nilai kini kewajiban dengan nilai wajar kekayaan karena manajemen berkeyakinan AJB BP akan dapat memenuhi kewajiban tersebut pada saat jatuh tempo. The present value of the obligation and the fair value of the asset relating to this program as of December 31, 2014 and 2013 Rp11,097,480, Rp12,026,860 and Rp11,452,659, Rp12,477,128, respectively. SP has not recognized any liabilities corresponding to the amount of the program assets, since management believes that AJB BP will be able to fulfill its obligations under this program on the due dates. Program Iuran Pasti Defined Contribution Plans a. Dana Pensiun Lembaga Keuangan DPLK a. Dana Pensiun Lembaga Keuangan DPLK Karyawan Perseroan mengikuti program pensiun iuran pasti yang meliputi semua karyawan tetap. Program ini dikelola oleh Dana Pensiun Lembaga Keuangan PT Bank Negara Indonesia Persero Tbk DPLK BNI dan DPLK Allianz-Indonesia yang akta pendiriannya telah disahkan oleh Menteri Keuangan Republik Indonesia dengan Surat Keputusan masing- masing No. KEP-1100KM.171998 dan No. KEP-129KM.102007, tanggal 23 Nopember 1998 dan 9 Juli 2007. Imbalan pensiun akan diberikan apabila karyawan tersebut pensiun, cacat atau meninggal dunia. Iuran untuk program pensiun tersebut adalah sebesar 20 dari gaji bulanan karyawan dan menjadi beban Perseroan. The Company’s employees joined a defined contribution plan covering all permanent employees. The plan is managed by Dana Pensiun Lembaga Keuangan PT Bank Negara Indonesia Persero Tbk DPLK BNI and DPLK Allianz-Indonesia, for which the deed of establishments were approved by the Minister of Finance of the Republic of Indonesia in Decision Letters No. KEP-1100KM.171998 and No. KEP-129KM.102007, respectively, dated November 23, 1998 and July 9, 2007. Employees, after serving a qualifying period, are entitled to benefits on retirement, disability or death. Pension fund contributions are 20 of the employees’ monthly salaries, which are borne by the Company.