BP Tapera Says People Misunderstand About Contribution Calculation, Here's the Correct One

BP Tapera Says the Public Misunderstand about Contribution Calculation, Here's the Correct One

"Dream - Commissioner of the Public Housing Savings Management Agency (BP Tapera), Heru Pudjo Nugroho, said that the circulating Tapera calculation scheme in society is still not accurate. "There is still a misunderstanding by the majority of the community, it is not that simple, and it needs to be clarified," said Heru as quoted from Merdeka.com, Thursday, July 4, 2024."

Heru explained that the calculation scheme for a 3 percent monthly tapera, then multiplied by a certain number of years, and then the nominal amount used to build a house is not accurate. Because that nominal amount is definitely not sufficient to build a residential house.

BP Tapera Says People Misunderstand About Contribution Calculation, Here's the Correct One

"If with simple mathematical calculations, the savings of Rp120 thousand per month, let's say for the next 20 years, the accumulation of the savings will clearly not be enough to afford the price of a house, as it is only worth Rp28.8 million."

"ungkap Heru." translates to "revealed Heru."

The correct scheme is that Tapera savings taken from salaries are one of the qualifications for participants to apply for Tapera housing financing assistance.

"If the participant is deemed eligible after consistently saving every month for one year, it will make it easier to meet the requirements and process the application with the banking institution as they are considered capable of setting aside income each month."

"Nilai ini bukan untuk mendapatkan rumah tapi untuk memastikan peserta memperoleh fasilitas pembiayaan rumah jangka panjang," "This value is not for acquiring a house but to ensure participants obtain long-term housing financing facilities."

"Clearly."

Further, Heru explained that the government's role in housing financing is to reduce the value of monthly installments with a flat interest rate of 5 percent until fully paid off, while also obtaining the benefits of returning the participants' principal savings along with the received returns. He gave an example, if the price of a land house is worth Rp175 thousand with a 1 percent down payment, then the installment burden received by the participants over 20 years with a flat interest rate of 5 percent is worth Rp1,143,373, including a monthly savings of Rp120,000, making it Rp1,263,373.

The calculation, he continued, is much cheaper when using the commercial mortgage scheme with an interest rate above 10 percent and is floating. "At the end of the repayment of Rumah Tapera in the next 20 years, participants will also receive a savings return worth Rp28,800,000 plus an estimated return of 4 percent per year, so participants will receive an additional Rp12,799,721. The value of the 4 percent estimate is above the savings interest or equivalent to the Himbara bank deposit (counter rate)," he added.

"Furthermore, he added, the management funds of participants' savings are separate from the funds for housing financing benefits. As for the savings amount of the participants, it is not disturbed, but rather benefits from the development of savings."

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