image credits: tapera.go.id

Tapera (People's Housing Savings) is an Indonesian government program aimed at collecting funds to build housing for the people. This program expands on Bapertarum, which was previously only for civil servants. Now, with Tapera, civilians can also participate. The President has approved this program, which has sparked diverse opinions. Some people support it because it helps participants more easily acquire homes. However, many oppose it as it is seen as burdensome. In my opinion, the Tapera program is unrealistic, and therefore, I oppose its implementation.

Supporters of Tapera believe it is a good program because it assists people in buying homes. However, many are skeptical, pointing out that Tapera savings cannot cover the salary deduction percentage and even the cheapest house prices. The Tapera deduction is 2.5% of monthly income. For example, the current minimum wage in Semarang is Rp3,243,969, and with a 2.5% deduction, the contribution is only Rp81,099 per month. Comparing this to the cheapest subsidized house in Semarang, priced around Rp150 million, it would take approximately 1,850 months or 154 years to save up Rp150 million, not accounting for inflation and property price increases. Isn't this highly unrealistic?

Some people argue that Tapera has a noble goal due to its cooperative concept, where all participants collectively gather funds to help people acquire homes. However, many are reluctant about this cooperative concept, as it only facilitates home acquisition without ensuring that those who get homes can consistently pay their installments. Another opinion suggests that Tapera is a savings scheme where people deposit their money with the government, and the funds grow with a maximum return of 4.3% in the Tapera Fund Management Contract (KPDT). Given the low returns and the fact that the savings can only be withdrawn at age 58 if not used for home purchase, it would be better to invest the Tapera contributions in government bonds with higher returns, such as FR Bonds (Obligasi FR) at 7% or Retail Government Securities (SBN Retail) at 6%.

Even though Tapera's concept of facilitating home acquisition is good, in reality, this program places additional financial burdens on workers due to the extra salary deductions. With the additional 2.5% Tapera deduction, total salary deductions amount to around 12%, including income tax (PPh), health and employment insurance (BPJS), and pension funds. A 12% deduction is substantial considering the monthly living expenses, rising basic commodity prices, and inflation.

Finally, since the Tapera program seems unrealistic, it is a loss to consider it as a savings place and store our money there. Most importantly, this program further burdens workers with a total monthly salary deduction of 12%, including income tax, health and employment insurance, pension funds, and Tapera. Therefore, I firmly oppose the Tapera program endorsed by President Jokowi.