Pension Fund Participants Reached 30.67 Million, Assets Stood at Rp1,699.99 Trillion

JAKARTA, Jakartaweekly.com — The Indonesia Financial Services Authority (OJK) reported that as of July 2026, the number of pension fund participants had reached around 30.67 million, while total pension fund assets stood at Rp1,699.99 trillion, growing 6.70% year-on-year (yoy)

Indonesia’s pension fund industry continues to show growth. OJK also recorded that the ratio of pension fund assets to GDP stood at 8.22% in 2025, with a target of 11.2% by 2029 and 60% by 2045. However, the pension protection gap remains a challenge.

Pension fund literacy stood at 22.21% in 2026, while the inclusion rate was 5.10%. In addition, Indonesia’s replacement ratio remains at around 15–20%, below the 40% standard.

OJK identified four structural challenges to expanding pension fund participation: literacy, people’s ability to set aside part of their income (affordability), access and participation (accessibility), and trust.

Expanding access is particularly important for informal and self-employed workers, whose income characteristics differ from those of formal workers.

To address these challenges, OJK is encouraging the creation of new sources of growth.

The measures include expanding participation among formal, self-employed, and informal workers; developing more flexible pension programs and products; expanding distribution channels through digital platforms; and strengthening partnerships within the pension fund ecosystem.

According to OJK Chief Executive for Insurance, Guarantee and Pension Fund Supervision Ogi Prastomiyono, expanding participation and access will ultimately strengthen the role of pension funds in the economy.

“So with more participants, larger contributions and broader access, we hope pension funds can provide a larger and more stable pool of long-term funds,” Ogi stated, as cited in a press release on Tuesday, September 29, 2026.

OJK is also continuing to strengthen the pension fund industry by encouraging collaboration among all stakeholders to build a national pension fund ecosystem, expand old-age protection, and enhance the role of pension funds as long-term institutional investors that support financial market deepening and the national economy.

Ogi emphasized that the development and deepening of the pension fund industry requires collaboration among the government, OJK, employers and workers, industry associations, and mandatory and voluntary pension program providers.

“In terms of collaboration, the development and deepening of the pension fund industry and market cannot be done individually. We have to collaborate,” Ogi said.

Such collaboration is needed to narrow the pension protection gap while strengthening the role of pension funds in supporting financial market deepening. 

Throughout September 2026, various pension fund education and literacy activities were carried out through collaboration among OJK, BPJS Ketenagakerjaan, PT TASPEN (Persero), PT ASABRI (Persero), pension fund associations, and pension program providers.

According to Ogi, pension funds have two main roles: providing financial protection for people during retirement and serving as long-term institutional investors that can support the capital market, economic growth, and the provision of long-term financing.

Strengthening collaboration was one of the key focuses of the Indonesia Pension Fund Summit (IPFS) 2026, held on September 24–25, 2026, in Jakarta as part of the 2026 Pension Fund Month series.

IPFS 2026 served as a strategic forum bringing together the government, regulators, mandatory and voluntary pension program providers, industry associations, employers, academics, practitioners, and other stakeholders to discuss challenges and the future development of Indonesia’s pension fund ecosystem.

OJK Chairman of the Board of Commissioners Friderica Widyasari Dewi, in her closing remarks at IPFS on Friday, September 25, 2026, said strengthening the pension fund industry has become increasingly important amid demographic changes and rising life expectancy.

These conditions need to be addressed by expanding participation while also improving the adequacy of pension benefits so that people can live independently and with dignity in old age.

“Going forward, our agenda should not focus solely on industry growth. Of course, this is very important, but at the same time, we must ensure that the pension fund system becomes stronger, more integrated and inclusive, and is able to provide adequate benefits to the public,” Friderica said, as cited in press release. 

Friderica also emphasized that efforts to strengthen the pension system need to be accompanied by greater public awareness of the importance of preparing for retirement from an early stage of their productive years.

Retirement preparation should be part of long-term financial planning rather than something people only consider when approaching retirement age.

“So, when we talk about retirement preparation, it should not be something we start thinking about only as retirement approaches. Instead, from the first day someone starts working, they should already be thinking about what their retirement plan will look,” Friderica added. 

As of September 24, 2026, a total of 107 activities had been held, consisting of 56 onsite/offline literacy activities, including seminars and workshops; 26 social media campaigns; 16 webinars; six podcasts; and two radio/TV talk shows.

The series of activities directly reached more than 18,000 participants and reached more than 139,000 people through online channels.

Through the 2026 Pension Fund Month series and IPFS 2026, OJK continues to encourage collaboration among all stakeholders to build a more inclusive, healthy, and sustainable pension fund ecosystem that can provide better old-age protection for the public.

OJK is also continuing to carry out its mandate to regulate, supervise, and develop the pension fund sector in a balanced manner, while encouraging the pension fund industry to expand participation and increase its contribution as a long-term institutional investor in supporting the deepening of the national financial market.