BPJS Ketenagakerjaan Aims to Become a Social Sovereign Fund by

On 24 October 2025, BPJS Ketenagakerjaan announced a plan to convert its Rp843.09 trillion social security fund into a Social Sovereign Fund Indonesia (SSF‑IDN) by 2045. The initiative aims to channel long‑term assets toward national development. The proposal was presented in an opinion piece highlighting the strategic role of the public‑mandated fund.

Currently, about 70 % of the portfolio consists of government bonds (SBN) and 17 % in deposits, yielding only 6‑7 % annual returns. The article recommends a modern portfolio theory approach, social impact investing, and fiduciary governance—principles that require investment decisions to prioritize participants’ interests. Shifting up to 50 % of assets under management (AUM) to productive assets is projected to raise the average return to 8.1 % per year.

Achieving the target could lift BPJS Ketenagakerjaan’s contribution to GDP by 1.6 % and generate roughly 1.9 million jobs, while cutting CO₂ emissions by about 2 million tons annually. The reform complies with Law No 40/2004 and Law No 24/2011, which mandate fiduciary governance of social security funds. Consequently, the SSF‑IDN transformation is expected to enhance the fund’s role as a catalyst for inclusive economic growth.