Jakarta, 21 October 2014 -Bank Mandiri Financial Institutions and Pension Funds (DPLK Mandiri) is to take over management of the pension fund of PT Semen Padang, a subsidiary of PT Semen Indonesia. The agreement for the management of the pension and severance pay fund was signed by Bank Mandiri Director of Institutional Banking, Abdul Rachman and PT Semen Padang Finance Director Benny Wendry in Jakarta on Tuesday (21 Oct).

Abdul Rahman said that DPLK Mandiri's management of the Semen Padang pension reflected the integrated financial services provided by the Bank. He said that currently Bank Mandiri provided banking services in the form of financing, fund placement, payroll, credit-card and consumer-loan services to Semen Padang.

"We want to provide added value to our customers so as to support their financial management functions. As part of this partnership, DPLK Mandiri will manage pension and severance pay funds for 1,475 people, with total funds under management amounting to more than Rp 30 billion," Abdul Rahman said.Bank Mandiri continues to promote growth at DPLK. To that end, Mandiri DPLK is sustainably strengthening the quality of its management system and human resources capacity, including the management of its distributor management.

The programs offered by Mandiri DPLK include the Severance Compensation Pension Fund (PPIP), where the size of pension benefits depends on the payment of fixed premiums, additional top-ups and investment options.

" As of the end of September 2014, Mandiri DPLK's total assets under management amounted to Rp 432.71 billion, up 106.06% from Rp 176.25 billion at the same time last year," said Rudi Rahman, Mandiri DPLK Finance Director.
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