OJK launches national pension fund movement and reports illegal entity shutdowns

The Indonesian Financial Services Authority (OJK) has launched the ‘2026 Pension Fund Month’ as a national movement to increase pension fund literacy and participation. The initiative, held in Jakarta, Bandung, and Semarang, aims to address low pension literacy rates, which stand at 22.21% compared to a national financial literacy rate of 69.57%. OJK Chairperson Friderica Widyasari Dewi emphasized the need for synergy between the government and the industry to build financial resilience, especially as the workforce shifts toward independent and informal sectors.

In a separate regulatory update, OJK reported that the Illegal Financial Activity Eradication Task Force (Satgas PASTI) shut down 1,222 illegal entities between January and August 2026. This includes 951 illegal online lenders, 242 illegal investment entities, and 27 illegal pawnshops. Additionally, the Indonesia Anti-Scam Centre (IASC) has processed over 668,000 reports, with verified blocked accounts totaling approximately 659,419 and recovered funds amounting to Rp206 billion.

Regarding market stability, OJK noted that Indonesia's financial sector remains resilient despite global geopolitical tensions in the Middle East and economic moderation in the US and China. Indonesia's Q2 2026 GDP grew by 5.29% year-on-year, supported by strong domestic consumption and government spending.