ENHANCING PERFORMANCE OF EMPLOYER PENSION FUND (CASE STUDY AT DANA PENSIUN PT X IN 2017)

• Main Author: Afina, Nurlaili
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/36266
• Institution: Institut Teknologi Bandung

Dana Pensiun PT X is one of the employer pension fund in Indonesia. The pension fund is subjected to the government regulation, such as POJK05/2017 and PMK No.113/2005 that gives challenges to the pension fund. Moreover, the number of the participants are also increasing. These issues gives rise to the liability of the pension fund. In order to help pension fund enhancing its performance, the approach that are used in this thesis to address the issue are by evaluating the investment policy and evaluating performance in 2017. The result of the evaluation of current investment policy done by the pension fund, there are some investment products that are not fit to the criteria set by the pension fund. Meanwhile, the result of the performance evaluation by using Sharpe ratio, Treynor ratio, and Jensen’s Alpha are that the stock, mutual fund and corporate bonds portfolio have higher ratio compared to the market index. The alterntives provided in this thesis are by move their investment from the securities that are not fit in the criteria to the securities that fit in the criteria for stock and corporate bond securities. As for the mutual fund, the company can implement a new criteria in the policy, which is by using the rating to choose the product. The result from this is that the return for stock and mutual fund are increasing 0,41% or equal to Rp37,9 billion, and 3,15% or Rp67 billion, respectively. As for the corporate bonds, the return is decreasing for Rp39 billion or 1,48%. The performance evaluation for the new portfolio is also done. The result by using three ratios shows that the new ratios calculation are higher than the initial calculation for stock and mutual fund. As for the corporate bond, the new ratios are lower than the initial calculation.