Abstract
This study aims to reconstruct the performance assessment model on Pension Fund by modifying Baldrige Assessment method that is adjusted to the conditions in Dana Pensiun A (Pension Fund A) in order to realize Good Pension Fund Governance. This study design uses case study analysis. The research sites were conducted in Dana Pensiun A. The informants in the study included the employer, supervisory board, pension fund management, active and passive pension fund participant as well as financial services authority elements as the regulator. The result of this research is a construction of a comprehensive and profound retirement performance assessment model with attention to aspects of growth and fair distribution. The model includes the parameters of leadership, strategic planning, stakeholders focus, measurement, analysis, and knowledge management, workforce focus, standard operational procedure focus, result, just and fair distribution of wealth and power
Highlights
The development of the pension industry, especially in Indonesia, is very encouraging
The second stage involved formulating a new concept of pension fund performance evaluation
The condition of data in the field is reflected in every activity undertaken in each pension fund
Summary
The development of the pension industry, especially in Indonesia, is very encouraging. Employees' interests or entitlements such as timely payment of pension benefits, the ease of accessing information related to the transparency of pension fund management, and other types of rights It is unfair should the performance assessment in pension industry as it is currently applied, as it only uses a financial performance approach such as Return on Investment (ROI), Operational Cost Efficiency, Investment Cost Efficiency, Investment Portfolio Optimization, Fund Adequacy Ratio (RKD) for DPPK-PPMP, Net Open Asset Growth Rate of Individual Participants for DPPK-PPIP and Pension Fund compliance aspects or compliance (Bureau of Pension Fund, 2015, Apriyanto, 2013). It has been modified to be adjusted with the existing conditions in Dana Pensiun A This performance assessment model is able to measure from the aspect of asset growth through financial parameters and aspects of distribution justice especially related to the interests of stakeholders
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