Structure, Function and Duty of Public Housing Savings Management Agency (BP Tapera)

Get an understanding of BP Tapera which has the task of providing feasible and affordable housing financing for the community.

1. BP Tapera consists of Committee, Commissioner, and Deputy Commissioner.
2. BP Tapera is tasked with managing Tapera as housing financing sustainable long-term low-cost funds as financing for feasible and affordable housing for the community, namely by collecting and providing funds from Participant.
3. BP Tapera functions to regulate, supervise and intervene the management of Tapera to protect the interests of Participant.
4. Tapera management does not aim to make a profit, despite that focuses on providing maximum benefits for Participant.

The Public Housing Savings Management Agency (“BP Tapera”) is a public legal entity established under Law No. 4 of 2014 on Public Housing Savings (“Tapera Law”), which is tasked with managing the Public Housing Savings (“Tapera”).

Tapera management by BP Tapera is carried out by collecting and providing sustainable long-term low-cost funds as financing for feasible and affordable housing for the community.

The structure of BP Tapera consists of:

1. Committee

The Committee is tasked with formulating general and strategic policies in the management of Tapera.

The Committee consists of the Minister of Public Works and Public Housing, Minister of Finance, Minister of Manpower, OJK Commissioner, and a professional in the field of housing and settlement area. The Committee is responsible to the President.

2. Commissioner

The Commissioner is appointed and dismissed by the President upon the Committee’s recommendation, which has authority and responsible for:

• regulating and supervising Tapera management;
• representing BP Tapera inside and outside the court;
• determining the organizational structure, functions, duties, authorities, work procedures, and personnel systems;
• proposing incomes;
• determining procurement procedures for goods and services in BP Tapera’s operations.

3. Deputy Commissioner

The Deputy Commissioner consists of a maximum of 4 people from professional elements, whose function is to assist the Commissioner’s duties. Deputy Commissioner is appointed and dismissed by the President upon the Committee’s recommendation.

BP Tapera functions to regulate, supervise and intervene the management of Tapera to protect the interests of Tapera Participants (“Participant”). Tapera management does not aim to make a profit, despite that focuses on providing maximum benefits for Participant.

The duties of BP Tapera are regulated under Article 37 of Tapera Law. In principle, BP Tapera is tasked to determine Tapera management policies that protect the interests of Participant, by ensuring the proper and efficient deposit and management of funds from Participants.

To ensure the above-mentioned, BP Tapera’s duties include (i) appointing investment managers, custodian banks, banks or financing companies as Tapera financing institutions, (ii) evaluating Tapera’s management, (iii) determining the allocation of funds for raising, utilization, and reserves, and (iv) providing lands.