Jakarta. The Ombudsman guarantees that the Public Housing Savings Fund (Tapera) is secure. Tapera funds will be invested in low-risk bond instruments, ensuring no risk of the funds decreasing or disappearing.

"If there are public concerns about the integrity of Tapera fund management, we have discussed it and can confirm that such issues will not occur," stated Ombudsman member Yeka Hendra Fatika at the BP Tapera office in Jakarta, Monday.

Yeka explained that the funds collected by the Public Housing Savings Management Agency (BP Tapera) will be invested in deposits and government securities (SBN), not in stocks.

"Tapera funds are placed in low-risk investments, so there will be no cases of funds decreasing or disappearing. I guarantee it, as I have checked everything," he emphasized.

Additionally, Yeka assured that BP Tapera has always placed funds safely by applying strict requirements for its investment managers. The key to the safety of fund management lies in the selection of investment managers.

"From my discussions with Tapera's investment managers, it's clear that this is not done carelessly. The requirements include certification and having assets under management of over Rp 2.5 trillion," he explained.

This statement also addresses findings by the Supreme Audit Agency (BPK), which previously reported that 124,960 retired civil servants had not received Tapera refunds (formerly known as Bapertarum) amounting to Rp 567.5 billion.

"Fortunately, all issues were resolved quickly, in less than a month," he clarified.

According to Yeka, the BPK's findings on Bapertarum had reduced public trust in the contribution policy aimed at accelerating homeownership.

"In the future, considering the issues post-Bapertarum, Tapera needs to implement mitigation efforts to maintain and enhance public trust," he concluded.

According to the Public Works and Public Housing Ministry (PUPR), the mandatory Tapera program aims to tackle the backlog of 36 million houses in Indonesia.

The implementation of the law has sparked opposition from both employees and employers due to its requirement for a salary deduction. President Joko "Jokowi" Widodo recently signed Government Regulation (PP) Number 21 of 2024 concerning the national housing program, mandating a 3 percent deduction from the salaries of public and private sector employees as well as freelancers. Employers are obligated to cover 0.5 percent, while employees bear 2.5 percent.

Tapera participants will benefit from long-term housing loans, including mortgage loans (KPR), house construction loans (KBR), and house renovation loans (KRR), with repayment terms of up to 30 years and fixed interest rates below market rates.