Semarang - To capitalize on the high market potential of the DPLK (Pension Fund), Group Life & Health, and Severance Programs in Semarang, Manulife Indonesia is planning to raise awareness of the importance of employee benefits in the city. Currently, Manulife’s Employee Benefits business serves nearly 5,000 companies and 740,000 employees, with funds under management of Rp. 6.3 trillion.
"Semarang and the whole region of Central Java is a potentially high-growth market for the employee benefits business, in line with its growing economy and increasing income per capita. To support companies in implementing the Manpower Law no. 13/2003, Manulife Indonesia has tailored employee benefits solutions to the needs of individual companies, especially for pension, severance, and group life & health,” said Nelly Husnayati, Vice President Director & Head of Employee Benefits and Sharia Manulife Indonesia who accompanied Aldi Rinaldi, Vice President of Employee Benefits Distribution at Manulife Indonesia’s Client Gathering in Semarang today.
The Manpower Law no. 13 (2003) states that employers must provide appropriate benefits to employees upon termination of employment, retirement and death and Social Security of Labour Law no. 3/1992 states that each company is required to provide protection including life insurance, accident, health insurance and retirement savings for employees. This law will particularly benefit employees from the cost of health care inflation in Indonesia, which is currently running at 10%-13% annually. Therefore, employee benefits programs can be considered as the basic solution for employees’ health and retirement needs.
"As a forward thinking company, Manulife sees this as an opportunity to provide employee benefits products to suit the needs of all companies and employees. Our Employee Benefits Consultant (EBC) is ready to provide the best solutions and education for the employers,” said Aldi Rinaldi. "We will maximize this opportunity and continue our efforts to introduce and educate companies about the benefits of employee benefits programs," he added.
About Manulife Indonesia
Manulife Indonesia offers the most comprehensive products and services in the Indonesian financial services industry through life insurance and employee benefits from PT Asuransi Jiwa Manulife Indonesia, and through mutual funds and asset management services from its affiliated company, PT Manulife Aset Manajemen Indonesia. Headquartered in Jakarta, Manulife Indonesia operates through a network of marketing offices in 24 cities across the country, supported by more than 9000 employees and professional agents and has approximately 1.6 million in-force policies.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$500 billion (US$491 billion) as at December 31, 2011. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com.For more information, please contact:
Employee Benefits Distribution