OECD Commends OJK Reforms in Insurance & Pension Fund Sectors

RRI.CO.ID, Jakarta – The Organisation for Economic Co-operation and Development (OECD) commends the various reform measures currently being implemented by the Financial Services Authority (OJK). The commendation is directed at the insurance and pension fund sectors for strengthening the resilience of the financial sector, enhancing consumer protection, and promoting the development of a healthy and sustainable industry.

The OECD’s Head of Insurance and Pensions, Pablo Antolín, made the statement at the OECD’s Fact-Finding Mission event on insurance and pension funds held in Jakarta on Monday, June 8, 2026. The OECD’s visit from June 5–11, 2026, is part of Indonesia’s accession process to become a full member of the OECD.

Indonesia became the first ASEAN country to enter the OECD accession process in February 2024. Currently, the OECD comprises 38 member countries and is an international organization that promotes the adoption of best policies and standards to support economic growth, financial stability, and public welfare.

OJK Board of Commissioners Chairperson, Friderica Widyasari Dewi, stated in her opening remarks that the Fact-Finding Mission is an important opportunity to strengthen policy dialogue. In addition to strengthening dialogue, this also demonstrates the various financial sector reforms currently being undertaken by Indonesia.

“Indonesia welcomes the OECD Fact-Finding Mission as an important part of the accession process. We view this process not merely as an assessment, but as a strategic opportunity to benchmark against international best practices and accelerate reforms in Indonesia’s financial sector,” Friderica said, as quoted in a written press release from the OJK.

Friderica explained that amid various global challenges, the Indonesian economy continues to demonstrate strong resilience, supported by solid domestic consumption and investment. Meanwhile, the financial services sector is also in a healthy and stable condition.

In the insurance sector, the industry’s Risk-Based Capital (RBC) ratio remains well above the minimum requirement, at 476.11 percent for life insurance and 311.74 percent for general insurance. In the pension fund sector, total assets reached Rp410.14 trillion as of April 2026 and continue to show a positive growth trend as long-term institutional investors.

As part of this Fact-Finding Mission, the OECD delegation is scheduled to meet with various other stakeholders in Indonesia. These include the Ministry of Finance, the National Disaster Management Agency (BNPB), the Environmental Fund Management Agency, the Social Security Administration for Workers (BPJS Ketenagakerjaan), insurance and pension fund associations and industries, the actuarial profession, insurance and reinsurance brokers, consumer groups, and other industry players.