Millions of informal sector workers ill-prepared for retirement

Many Indonesians are struggling to save for retirement, as they face uncertain incomes and unstable employment. Freelance videographer Nabilla, based in Bandung, West Java, is one of them. She constantly worries about her income and prioritizes building "emergency funds" over retirement savings. "I don't have retirement savings at the moment, because I don't know how much I'm going to earn next month, so I'm keeping my savings as a safety net," she said.

While Nabilla acknowledges the importance of old-age security, she prefers to keep her savings accessible for current and future needs. Ferman, a 30-year-old resident of Solo, Central Java, who has worked independently in the creative industry for nearly a decade, also faces similar challenges in managing his finances and building retirement funds.