Heaptalk, Jakarta — The Indonesian government requires all workers, including private employees, civil servants, the Indonesian National Armed Forces (TNI), and the Indonesian National Police (Polri), to contribute to a public housing savings fund called Tapera.
This regulation is stipulated in Government Regulation Number 21 of 2024 (PP No.21/2024) on Amendments to Government Regulation Number 25 of 2020 on the Implementation of the Public Housing Savings Fund. President Joko Widodo enacted this regulation on May 20, 2024.
In more detail, the savings will be deducted at a rate of 3% from salaries. The Ministry of Manpower will collect and manage contributions from private sector employees and employees of state-owned enterprises or regional-owned enterprises. Meanwhile, for civil servants, TNI, and Polri, the Ministry of Finance will coordinate with the Ministry for Administrative and Bureaucratic Reform to collect and manage these contributions further.
Designed for low-income communities
Heru Pudyo Nugroho, Commissioner of the Public Housing Savings Fund Management Agency (BP Tapera), welcomed the issuance of this regulation which refines the previous rules. The refinements include that the management of the public housing savings fund will be carried out through periodic contributions by participants over a certain period, which can only be used for home financing and/or the return of the principal savings along with accumulated benefits after participation ends.
Several key points regulated in Government Regulation Number 21 of 2024 include the authority of relevant ministries to regulate Tapera participation and the separation of funding sources between the Housing Financing Liquidity Facility (FLPP) funds and Tapera funds. “People who fall into the low-income category and do not yet own their first home can apply for Tapera financing benefits, as long as they have become Tapera participants,” Heru said.
BP Tapera is mandated to distribute housing financing based on collective savings. Participants categorized as low-income communities (MBR) can benefit from homeownership loans (KPR), home construction loans (KBR), and home renovation loans (KRR) with long tenors of up to 30 years and fixed interest rates below market rates.
In managing Tapera funds, BP Tapera emphasizes transparency and accountability in accordance with the principles of good corporate governance (GCG) and is under the direct supervision of the Tapera Committee, the Financial Services Authority (OJK), and the Supreme Audit Agency (BPK).
