World

Indonesia raises retirement age to 59

Indonesia increases the retirement age for workers to 59, starting in 2025.

Illustrative photo (Photo: jakartaglobe.id)
Illustrative photo (Photo: jakartaglobe.id)

Jakarta (VNA) – Indonesia increases the retirement age for workers to 59, starting in 2025.

The adjustment aligns with Government Regulation (PP) No. 45 of 2015 on the Implementation of the Pension Guarantee Programme.

Article 15 of PP No. 45/2015 initially established the retirement age at 56, with a provision for gradual increases. From January 1, 2019, the retirement age rose to 57, with plans for it to increase by one year every three years until reaching a maximum retirement age of 65.

Therefore, according to the regulations, starting January 2025, the retirement age for workers is 59 and will be applied through 2028.

This regulation also serves as a reference for workers registered with the Employment Social Security Administration Agency (BPJS TK) to claim their pension benefits.

As Indonesia adapts to demographic and economic shifts, the gradual increase in the retirement age aims to ensure the sustainability of the pension system while supporting the financial well-being of the country’s aging workforce./.

VNA
#Indonesia #retirement age #pension benefits #pension system Indonesia
Follow VietnamPlus

Related News

Inidonesian Minister for the Protection of Migrant Workers (P2MI), Abdul Kadir Karding (left), addressing a press conference in Jakarta on January 6, 2025. (Photo: ANTARA)

Indonesia sets ambitious labour export target for 2025

Indonesia aims to send at least 425,000 workers abroad in 2025, a move expected to boost the nation’s economic growth by 0.52% and generate over 300 trillion IDR (18.5 billion USD) in foreign exchange earnings, according to Minister of Migrant Worker Protection Abdul Kadir Karding.

The unloading activities at the Ahmad Yani port in Ternate, North Maluku, Indonesia. (Photo: Antara)

Indonesia eyes 7.1% export growth in 2025

Indonesia targets nearly 294.5 billion USD in exports this year to push the country’s economy towards a growth target of 8% set by President Prabowo Subianto.

(Photo: insiderpaper.com)

Indonesia joins BRICS as full member

Brazil's government said in a statement on January 6 that Indonesia is formally joining BRICS as a full member, further expanding the group of major emerging economies, including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates (UAE).

See more

A street in Jakarta, Indonesia. (Photo: Xinhua/VNA)

Indonesia acts to curb air pollution in Jakarta

According to the State of Global Air 2023 report, Indonesia ranks among the world's top 10 countries with the highest exposure to PM2.5 particles, with annual averages exceeding 30 micrograms per cu.m while the World Health Organidation recommends a threshold of 5 micrograms per cu.m.

Delegates offer incense at the commemoration. (Photo: VNA)

Cambodia commemorates victims of Pol Pot genocide

The National Day of Remembrance has played an important role in promoting national reconciliation and unity within Cambodian society. It helps raise awareness about the atrocities committed under Democratic Kampuchea and contributes to efforts to prevent the recurrence of such brutal and inhumane acts.

Street food restaurants on Banthat Thong Road in Bangkok. (Photo: bangkokpost.com)

Thailand offers new incentives to support SMEs

One key measure to support Thai entrepreneurs is an increase in the corporate income tax (CIT) benefits granted to BOI-promoted SMEs, which will now receive a five-year CIT exemption equal to as much as 100% of their investment in enhancing their capabilities and improvements, up from the previous three-year CIT exemption capped at 50% of investment.

Participants pose for a group photo at the special film screening commemorating the 135th birth anniversary of President Ho Chi Minh on May 19 in Greece. (Photo: VNA)

Film screening in Greece honours President Ho Chi Minh

Together with the recent release of a Greek-language biography of President Ho Chi Minh, the film screening honours the genius leader of Vietnam’s revolution, a national liberation hero, a world cultural icon, and a close friend of all peoples who have fought for peace, national independence, democracy, and social progress across the globe.