Essential Information KKA Riana & Rekan
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Here are some essential questions and their answers regarding the transfer of actuarial services from PT Padma Radya Aktuaria to KKA Riana & Rekan  

 

  1. What is the reason behind this transfer?

Answer:

This is due to regulatory stipulation, i.e. Ministry of Finance decree PMK no. 137/2016 which later on is revised into PMK no. 227/2020 on Actuaries, which states that the deadline that a limited liability company (or a PT) can issue actuarial service report is only up to 20th September 2021. Therefore, PT Padma Radya Aktuaria can only engage in and release report on actuarial services up to that date. Afterwards, PT Padma Radya Aktuaria can only engage in non actuarial consulting services.

   

  1. Does KKA Riana & Rekan replace PT Padma Radya Aktuaria or is it a separate entity? If it is a separate entity, what happens to PT Padma Radya Aktuaria?

Answer:

KKA Riana & Rekan is a firm whereas PT Padma Radya Aktuaria is a limited liability company, therefore they are 2 different entities.

While all actuarial consulting services are “transferred” to our new firm (KKA Riana & Rekan), PT Padma Radya Aktuaria will still be handling our non actuarial consulting services, such as trainings, actuarial software implementation or actuarial secondment services.

 

  1. Are there changes to the correspondence details (email addresses, phone numbers) as a result of this transfer? Are the personnels handling our company’s engagement going to be different?

Answer:

No, there are no changes. Our telephone number remains as before: 021 50 60 6888.

No change in personnel handling your company’s engagement, either.

PIC for engagement’s paperworks remains Maria, Bella or Melly (admin@padmaaktuaria.com).

PIC for delivery of actuarial report remains the same with previous ones.

 

  1. What is the credential of the firm KKA Riana & Rekan? Is it already licensed as provider of actuarial consulting services? Who are the Actuaries? What are the experiences?

Answer:

The firm KKA Riana & Rekan has already acquired the license to operate as provider of actuarial consulting services from Ministry of Finance in its decree KMK No. 725/KM.1/2021 dated 13th July 2021.

Because KKA Riana & Rekan is a firm established to accept transfer from PT Padma Radya Aktuaria, therefore all Actuaries and experiences under PT Padma Radya Aktuaria are transferred to the Firm.

For more detail on our team and experiences, please download our Company Profile by clicking on the button at the bottom part of this page.

 

  1. Our company has signed the Engagement Letter and has prepared data which will be sent to you soon. Should this Engagement Letter be amended for this transfer, thus will it mean there will be delays in delivery of result?

Answer:

We have contacted and announced about this transfer since July and supposedly all Engagement Letters with the PT at this point have already been transferred to the Firm.

However, if your company’s Engagement Letter (EL) is still with PT Padma Radya Aktuaria and the actuarial report is not yet released, then the EL must be amended. We will still process the calculation or consultancy based on the previous EL, and generally there should not be any delay.

 

  1. We have received the draft report and will soon finalize it. Do we need to amend the EL and transfer it to the Firm?

Answer:

No need. As long as the date on the draft report is not later than the deadline (i.e. 20th September 2021), there is no need to amend the EL.

 

  1. How do we transfer the EL to the Firm?

Answer:

Generally, we will amend by cancelling the old EL with the PT and then issue a new one with the Firm, which then needs to be re-signed off by clients.  

 

 

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