PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED
Figures in tables are presented in billions of Rupiah, unless otherwise stated
82
34. RETIREMENT BENEFITS OBLIGATION continued
a. Prepaid pension benefit costs The Company sponsors a defined benefit pension plan to employees with permanent status prior
to July 1, 2002. The pension benefits are paid based on the participating employees’ latest basic salary at retirement and the number of years of their service. The plan is managed by Telkom
Pension Fund “Dana Pensiun Telkom” or “Dapen”. The participating employees contribute 18 before March 2003: 8.4 of their basic salaries to the pension fund. The Company’s
contributions to the pension fund for nine months period ended September 30, 2013 and the years ended December 31, 2012 amounted to Rp138 billion and Rp186 billion, respectively.
The following table presents the change in projected pension benefits obligation, change in pension plan assets, funded status of the pension plan and net amount recognized in the
Company’s consolidated statements of financial position as of September 30, 2013 and December 31, 2012, for its defined benefit pension plan:
September 30, December 31, 2013
2012 Change in projected pension benefits obligation
Projected pension benefits obligation at beginning of year 19,249
16,188 Service costs
338 372
Interest costs 887
1,151 Pension plan participants contributions
33 44
Actuarial gains losses 2,660
2,123 Expected pension benefits paid
492 629
Projected pension benefits obligation at end of period 17,355
19,249
Change in pension plan assets
Fair value of pension plan assets at beginning of year 18,222
16,597 Expected return on pension plan assets
1,114 1,517
Employer’s contributions 138
186 Pension plan participants contributions
33 44
Actuarial losses gains 2,660
507 Expected pension benefits paid
492 629
Fair value of pension plan assets at end of period 16,355
18,222 Funded status
1,000 1,027
Unrecognized prior service costs 113
217 Unrecognized net actuarial losses
1,841 1,841
Prepaid pension benefit costs 954
1,031
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED
Figures in tables are presented in billions of Rupiah, unless otherwise stated
83
34. RETIREMENT BENEFITS OBLIGATION continued a. Prepaid pension benefit costs continued
The expected return is determined based on market expectation for returns over the entire life of the obligation by considering the portfolio mix of the plan assets. The actual return on plan assets
was Rp1,535 billion and Rp2,024 billion for nine months period ended September 30, 2013 and the years ended December 31, 2012.
The movements of the prepaid pension benefit costs during nine months period ended September 30, 2013 and the years ended December 31, 2012 are as follows:
September 30, December 31, 2013
2012
Prepaid pension benefits costs at beginning of year 1,031
990 Net periodic pension costs less amounts
charged to subsidiaries 200
133 Amounts charged to subsidiaries
under contractual agreements 15
12 Employer’s contributions
138 186
Prepaid pension benefits costs at end of period 954
1,031
As of September 30, 2013 and December 31, 2012, plan assets mainly consisted of :
September 30, December 31, 2013
2012
Indonesian equity securities 20.59
21.82 Government bonds
39.72 37.96
Corporate bonds 22.18
16.91 Others
17.51 23.31
Total 100.00
100.00
Pension plan assets also include Series B shares issued by the Company with fair value totaling Rp268 billion and Rp233 billion representing 1.64 and 1.23 of total plan assets as of
September 30, 2013 and December 31, 2012, respectively, and bonds issued by the Company with fair value totaling Rp152 billion and Rp159 billion representing 0.93 and 0.87 of total
plan assets as of September 30, 2013 and December 31, 2012, respectively.
The actuarial valuation for the defined benefit pension plan and the other post-retirement benefits Notes 34b and 34c was performed based on the measurement date as of December 31, 2012
and 2011, with reports dated February 28, 2013 and March 7, 2012, respectively, by PT Towers Watson Purbajaga “TWP”, an independent actuary in association with Towers Watson “TW”
formerly Watson Wyatt Worldwide. The principal actuarial assumptions used by the independent actuary as of December 31, 2012 and 2011 are as follows:
