The Financial Services Authority (OJK) reaffirmed its commitment to strengthening Indonesia’s national pension fund system in line with international standards while ensuring optimal protection for participants. The statement was delivered by Ogi Prastomiyono, Chief Executive of Insurance, Guarantee, and Pension Fund Supervision at OJK, during the OECD Financial Markets Week held on March 2–5, 2026, in Paris, France. 

Ogi Prastomiyono led the Indonesian delegation, consisting of representatives from OJK and the Ministry of Finance of the Republic of Indonesia, to participate in several strategic global financial sector policy forums. Indonesia’s participation in the event forms part of the country’s accession process to become a member of the OECD. 

Indonesia currently holds accession country status and is the first country in Southeast Asia to obtain this designation. 

During the forum, Ogi presented Indonesia’s self-evaluation regarding two OECD legal instruments related to the pension sector, namely the Core Principles of Private Pension Regulation and the Good Design of Defined Contribution Pension Plans. In his presentation, Ogi outlined various aspects of Indonesia’s national pension system. These include the structure of Indonesia’s pension fund industry, the regulatory and supervisory framework, the implementation of governance and risk management practices, as well as the application of risk-based supervision to support industry stability and participant protection. 

Indonesia’s National Pension System Shows Several Strengths 

Indonesia also objectively identified several areas that could be further strengthened compared with OECD standards. These include the development of life-cycle-based investment strategies, strengthening pension benefit design to encourage regular payout structures as retirement income, and expanding coverage in pension participation programs. 

“OJK continues to encourage the strengthening of Indonesia’s national pension system so that it becomes increasingly aligned with international best practices. This step is important to ensure the sustainability of pension benefits for the public while strengthening the resilience of the national financial sector,” Ogi said. 

In addition to attending the OECD forum, OJK also participated in meetings of the International Organisation of Pension Supervisors (IOPS). OJK currently serves as a member of the IOPS Executive Committee. 

As part of the event series, a joint meeting between IOPS and the OECD Working Party on Insurance and Pensions (WPIP) was also held to discuss various policy issues and supervisory practices related to pension funds at the global level. 

Delegations from OECD member countries welcomed Indonesia’s presentation and appreciated the open approach taken in mapping both the strengths and areas for improvement in the national pension system. Feedback from the OECD will serve as an important reference in refining policies and strengthening Indonesia’s pension system in the future. This process will also support the next stages of Indonesia’s accession to OECD membership. 

OJK’s participation in this international forum also reflects the authority’s commitment to improving the quality of regulation and supervision in Indonesia’s financial services sector in line with global standards. These efforts are expected to strengthen the resilience of the national financial system, enhance investor confidence, and support sustainable economic development. 

This article is published in partnership with Katadata  

Original article here