JAKARTA - The Financial Services Authority (OJK) has revoked the Abbott Indonesia Pension Fund business license for the efficiency and effectiveness of PT Abbott Indonesia. The management of Abbott customer pension funds is transferred to the Manulife Indonesia Financial Institution Pension Fund.

As quoted in the disclosure of company information, the announcement of the revocation of the Abbott Indonesia's pension fund business license was set by the OJK on December 31, 2019 by Deputy Commissioner for Non-Bank Financial Industry Supervisor I Anggar B Nuraini. Revocation of business licenses is set on December 19, 2019 by the OJK Board of Commissioners, Chief Executive of Insurance Supervision, Pension Funds, Financing Institutions and Other Financial Services Institutions.

In the decision to revoke the business permit, the Abbott Indonesia Pension Fund liquidation team was listed, namely, Yanu Artha Nugraha and Geska Gladventa Hermawan. The task of this team is to inventory the wealth and obligations of the Abbott Indonesia pension fund, disburse the wealth of the pension fund, and settle the financial obligations of the pension fund. (LK)