OJK Explores Independent Pension Fund Scheme for Athletes

Expanding Pension Coverage

The Financial Services Authority (OJK) is considering a new initiative to establish a pension fund program for athletes and coaches through an independent participation scheme. Ogi Prastomiyono, Head of the Executive Office for Insurance, Guarantee, and Pension Fund Supervision at OJK, stated that this policy is highly feasible.

The proposed scheme aims to expand the coverage of pension fund participants and increase the industry's assets. This move aligns with OJK's efforts to promote pension inclusion, particularly for informal workers who often lack regular income.

Addressing Informal Workers' Needs

Many athletes face financial uncertainty, similar to informal workers, as their income is not always regular. OJK recognizes this challenge and is working to create a more inclusive pension system. The authority emphasizes the need for pension products that cater to the characteristics of informal workers, such as flexible contribution schedules.

Strengthening the Pension Industry

OJK views this initiative as an opportunity to make the pension fund industry stronger, more inclusive, and sustainable. By broadening participation to include diverse groups like athletes and coaches, the regulator aims to enhance the industry's overall resilience.

Digital Platform Utilization

The OJK has previously highlighted the importance of leveraging digital platforms to expand access to pension funds, particularly for informal workers. By utilizing technology, the pension industry can offer more accessible products with features such as non-periodic contributions, making it more suitable for those with irregular incomes.