GENERAL AND ADMINISTRATIVE EXPENSES Year ended December 31, EMPLOYEE BENEFITS
50. EMPLOYEE BENEFITS continued Pension Plan
continued The calculation of actuarial retirement benefit liabilities for the Bank only on December 31, 2016 is based on the reports from PT Bestama Actuary as at January 5, 2017 with the Projected Unit Credit method. The calculation of actuarial retirement benefit liabilities for the Bank only on December 31, 2015 is based on the reports from PT Dayamandiri Dharmakonsilindo as at January 5, 2016 with the Projected Unit Credit method The assumptions used for the years ended December 31, 2016 and 2015 are as follows: DPBMS DPBMD DPBMT DPBME Discount rate 8.50 per annum 2015: 9.50 per annum 8.50 per annum 2015: 9.50 per annum 8.50 per annum 2015: 9.50 per annum 8.50 per annum 2015: 9.50 per annum Expected rate of return on pension plan assets 9.50 per annum 9.50 per annum 9.50 per annum 9.50 per annum 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 PhDP used Last month salary of July 31, 1999, which adjusted on January 1, 2003 Last month salary of July 31, 1999, which adjusted on January 1, 2003 Last month salary of July 31, 1999, which adjusted on January 1, 2003 Last month salary of July 31, 1999, which adjusted on January 1, 2003 Expected rates of PhDP increase Nil Nil Nil Nil Mortality Rate Table Indonesian Mortality Table 2011 TMI III for employee and former employee and Group Annuity Mortality 1983 GAM ’83 for pensioners Indonesian Mortality Table 2011 TMI III for employee and former employee and Group Annuity Mortality 1983 GAM ’83 for pensioners Indonesian Mortality Table 2011 TMI III for employee and former employee and Group Annuity Mortality 1983 GAM ’83 for pensioners Indonesian Mortality Table 2011 TMI III for employee and former employee and Group Annuity Mortality 1983 GAM ’83 for pensioners Turnover rate 5.00 for employees’ age of 25 and decreasing linearly 0.167 every year up to 0 at age 55 5.00 for employees’ age of 25 and decreasing linearly 0.167 every year up to 0 at age 55 5.00 for employees’ age of 25 and decreasing linearly 0.167 every year up to 0 at age 55 5.00 for employees’ age of 25 and decreasing linearly 0.167 every year up to 0 at age 55 Disability rate 10.00 of TMI III 10.00 of TMI III 10.00 of TMI III 10.00 of TMI III Actuarial method Projected Unit Credit Projected Unit Credit Projected Unit Credit Projected Unit Credit Normal retirement age 48 years to 56 years depending on the grades 56 years for all grades 56 years for all grades 56 years for all grades Maximum defined benefit amount 80.00 of PhDP 80.00 of PhDP 62.50 of PhDP 75.00 of PhDP Expected rate of pension benefit increase Nil Nil Nil 2.00 per year Tax rates - average 3.00 of pension benefit 3.00 of pension benefit 3.00 of pension benefit 3.00 of pension benefit PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated 18750. EMPLOYEE BENEFITScontinued
Pension Plan continued The projected benefit obligations and fair value of plan assets as of December 31, 2016, based on independent actuarial report, are as follows: DPBMS DPBMD DPBMT DPBME Projected benefit obligations 1,393,976 1,673,195 717,416 479,583 Fair value of plan assets unaudited 1,620,439 1,810,473 827,718 575,742 Funded Status 226,463 137,278 110,302 96,159 Asset ceiling 226,463 137,278 110,302 96,159 Pension Plan Program Assets recognised in consolidated statement of financial position - - - - There are no unrecognised accumulated actuarial loss-net nor unrecognised past service cost and there are no present value of available future refunds or reductions of future contributions. There are no plan assets recognised in the consolidated statements of financial position because the requirements under SFAS No. 24 regarding “Employee Benefits” are not fulfilled. The projected benefit obligations and fair value of plan assets as of December 31, 2015, based on independent actuarial report, are as follows: DPBMS DPBMD DPBMT DPBME Projected benefit obligations 1,482,397 1,600,083 606,730 445,196 Fair value of plan assets unaudited 1,516,555 1,820,417 817,262 578,209 Funded Status 34,158 220,334 210,532 133,013 Asset ceiling 34,158 220,334 210,532 133,013 Pension Plan Program Assets recognised in consolidated statement of financial position - - - - There are no unrecognised accumulated actuarial loss-net nor unrecognised past service cost and there are no present value of available future refunds or reductions of future contributions. There are no plan assets recognised in the consolidated statements of financial position because the requirements under SFAS No. 24 regarding “Employee Benefits” are not fulfilled. The composition of plan assets from Pension Fund for the years ended December 31, 2016 and 2015 are as follows: December 31, 2016 unaudited DPBMS DPBMD DPBMT DPBME Deposit 6 8 4 12 Bonds 31 44 27 36 Direct Investment 6 16 28 15 Land and building 22 4 24 10 Shares 6 3 1 Government Bond 21 21 15 10 Others 8 4 2 16 Total 100 100 100 100Parts
» Bank Mandiri Eng 31 Des 2016 Released Password Removed
» Merger GENERAL INFORMATION a. Establishment
» Recapitalisation GENERAL INFORMATION continued b. Merger continued
» Divestment of Government Share Ownership
» GENERAL INFORMATION continued g. Subsidiaries
» GENERAL INFORMATION continued g. Subsidiaries continued
» Structure and Management GENERAL INFORMATION continued g. Subsidiaries continued
» GENERAL INFORMATION continued h. Structure and Management continued
» Basis of Preparation of the Consolidated Financial Statements
» Financial instruments A. Financial assets
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued c. Financial instruments continued
» Transactions with related parties
» Current accounts with Bank Indonesia and other banks
» Placements with Bank Indonesia and other banks
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Securities purchasedsold under resalerepurchase agreements
» Derivative receivables and derivative payables
» Loans and sharia receivablesfinancing
» Consumer financing receivables SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued l.
» Fixed Assets, leased assets and intangible assets i. Fixed assets and software
» Fixed assets and software continued
» Allowance for possible losses on non-earning assets
» Acceptance receivables and payables
» Deposits from customers SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued v. Other assets
» Deposits from other banks Insurance contract
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued z. Insurance contract continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued ad. Income tax continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued ae. Temporary syirkah funds continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued ai. Employee benefits continued
» Determining fair values of financial instruments
» Impairment of non-financial assets
» CURRENT ACCOUNTS WITH BANK INDONESIA December 31, December 31,
» CURRENT ACCOUNTS WITH BANK INDONESIA continued December 31, December 31,
» CURRENT ACCOUNTS WITH OTHER BANKS
» CURRENT ACCOUNTS WITH OTHER BANKS continued
» PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS continued
» PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS continued MARKETABLE SECURITIES
» MARKETABLE SECURITIES continued MARKETABLE SECURITIES continued
» MARKETABLE SECURITIES continued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» MARKETABLE SECURITIES continued GOVERNMENT BONDS GOVERNMENT BONDS continued
» GOVERNMENT BONDS continued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» OTHER RECEIVABLES - TRADE TRANSACTIONS
» OTHER RECEIVABLES - TRADE TRANSACTIONS continued
» SECURITIES PURCHASED UNDER RESALE AGREEMENTS
» SECURITIES PURCHASED UNDER RESALE AGREEMENTS continued
» DERIVATIVE RECEIVABLES AND PAYABLES
» DERIVATIVE RECEIVABLES AND PAYABLES continued
» 2 By type and Bank Indonesia’s collectibility:
» 2 By type and Bank Indonesia’s collectability continued:
» LOANS AND SHARIA RECEIVABLESFINANCING continued
» LOANS AND SHARIA RECEIVABLESFINANCINGcontinued
» LOANS AND SHARIA RECEIVABLESFINANCING continued LOANS AND SHARIA RECEIVABLESFINANCING continued
» CONSUMER FINANCING RECEIVABLES continued
» NET INVESTMENT FINANCE LEASES
» NET INVESTMENT IN FINANCE LEASE continued ACCEPTANCES RECEIVABLE
» ACCEPTANCES RECEIVABLE continued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» ACCEPTANCES RECEIVABLE continued INVESTMENT IN SHARES
» INVESTMENT IN SHARES continued
» FIXED ASSETS Bank Mandiri Eng 31 Des 2016 Released Password Removed
» FIXED ASSETS continued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» FIXED ASSETS continued Others
» FIXED ASSETS continued Others continued
» INTANGIBLE ASSETS December 31, December 31, OTHER ASSETS December 31, December 31,
» OTHER ASSETS continued DEPOSITS FROM CUSTOMERS - DEMANDWADIAH DEMAND DEPOSITS
» DEPOSITS FROM CUSTOMERS - SAVINGWADIAH SAVING DEPOSITS continued
» DEPOSITS FROM CUSTOMERS - TIME DEPOSITS continued
» DEPOSITS FROM OTHER BANKS - DEMANDWADIAH DEMAND AND SAVING DEPOSITS
» DEPOSITS FROM OTHER BANKS -DEMANDWADIAH DEMAND AND SAVING DEPOSITS continued
» DEPOSITS FROM OTHER BANKS - INTER-BANK CALL MONEY
» DEPOSITS FROM OTHER BANKS - TIME DEPOSITS
» LIABILITY TO UNIT-LINK HOLDERS
» LIABILITY TO UNIT-LINK HOLDERS continued
» LIABILITY TO UNIT-LINK HOLDERScontinued
» SECURITIES SOLD UNDER REPURCHASE AGREEMENTS
» ACCEPTANCES PAYABLE Bank Mandiri Eng 31 Des 2016 Released Password Removed
» MARKETABLE SECURITIES ISSUED Bank Mandiri Eng 31 Des 2016 Released Password Removed
» MARKETABLE SECURITIES ISSUED continued Bonds continued
» MARKETABLE SECURITIES ISSUED continued Subordinated notes sharia mudharabah
» MARKETABLE SECURITIES ISSUED continued Subordinated notes sharia mudharabah continued
» ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES
» Prepaid taxes December 31, December 31,
» Taxes payable December 31, December 31,
» TAXATION b. Taxes payable continued
» TAXATION continued d. Tax expense - current
» TAXATION continued d. Tax expense - current continued
» Tax on fixed assets revaluation
» Tax assessment letters Fiscal year 2013
» Tax collection letter Fiscal year 2014
» EMPLOYEE BENEFIT LIABILITIES December 31, December 31,
» OTHER LIABILITIES continued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» FUND BORROWINGS continued December 31, December 31,
» FUND BORROWINGS continued FUND BORROWINGS continued
» FUND BORROWINGS continued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» SUBORDINATED LOANS Bank Mandiri Eng 31 Des 2016 Released Password Removed
» SUBORDINATED LOANS continued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» TEMPORARY SYIRKAH FUNDS Bank Mandiri Eng 31 Des 2016 Released Password Removed
» TEMPORARY SYIRKAH FUNDS continued
» Authorised, Issued and Fully Paid Capital
» SHARE CAPITAL continued a. Authorised, Issued and Fully Paid Capital continued
» SHARE CAPITAL continued a. Authorised, Issued and Fully Paid-in Capital continued
» Additional Paid-In CapitalShare Premium
» SHARE CAPITAL continued c. Distribution of net income continued
» INTEREST EXPENSE AND SHARIA EXPENSE OTHER OPERATING INCOME - OTHERS Year ended December 31,
» ALLOWANCE AND REVERSAL FOR IMPAIRMENT LOSSES Year ended December 31,
» UNREALISED GAINSLOSSES Bank Mandiri Eng 31 Des 2016 Released Password Removed
» GAIN ON SALE OF MARKETABLE SECURITIES AND GOVERNMENT BONDS Year ended December 31,
» SALARIES AND EMPLOYEE BENEFITS Year ended December 31,
» SALARIES AND EMPLOYEE BENEFITS continued
» GENERAL AND ADMINISTRATIVE EXPENSES Year ended December 31, EMPLOYEE BENEFITS
» EMPLOYEE BENEFITScontinued Pension Plan
» EMPLOYEE BENEFITS continued Pension Plan continued
» EMPLOYEE BENEFITS continued Pension Plan
» EMPLOYEE BENEFITScontinued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» EMPLOYEE BENEFITS continued EMPLOYEE BENEFITS continued
» EMPLOYEE BENEFITS continued Labor Law No. 132003 continued
» NON-OPERATING EXPENSEINCOME - NET Year ended December 31,
» COMMITMENTS AND CONTINGENCIES continued
» FOREIGN CURRENCY TRANSACTIONS Bank Mandiri Eng 31 Des 2016 Released Password Removed
» RELATED PARTY TRANSACTIONS Bank Mandiri Eng 31 Des 2016 Released Password Removed
» RELATED PARTY TRANSACTIONS continued
» RELATED PARTY TRANSACTIONS continued RELATED PARTY TRANSACTIONS continued
» Liabilities RELATED PARTY TRANSACTIONS continued
» Temporary Syirkah Funds Note 38
» SEGMENT INFORMATION Bank Mandiri Eng 31 Des 2016 Released Password Removed
» SEGMENT INFORMATION continued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» CAPITAL ADEQUACY RATIO Bank Mandiri Eng 31 Des 2016 Released Password Removed
» CAPITAL ADEQUACY RATIO continued
» CUSTODIAL SERVICES AND TRUST OPERATIONS
» CUSTODIAL SERVICES AND TRUST OPERATIONS continued
» CHANNELING LOANS Bank Mandiri Eng 31 Des 2016 Released Password Removed
» RISK MANAGEMENT Bank Mandiri Eng 31 Des 2016 Released Password Removed
» RISK MANAGEMENT continued Bank Mandiri Eng 31 Des 2016 Released Password Removed
» RISK MANAGEMENT continued RISK MANAGEMENT continued
» Integrated banking system agreement with vendor
» Legal matters Trade Financing with Asian Development Bank ADB
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