Employers

An employer can be any person, company, association, or body of persons, who employs an employee and who pays or is liable to pay any earnings whether on that person’s own account, or as an agent, or as a trustee or as an assignee of the estate of a bankrupt, or as the liquidator or receiver of a company or as an administrator of a deceased persons and includes a person who is a self-employed person and a company of which a person is a shareholder employee.

Membership Eligibility

It is Compulsory for ALL Employees and Employers, Contract Workers, and Part time employees in the Cook Islands to join the fund.

Your Employees do not have to join the Fund if they are:

• 60 years and over
• Under the age of 18 years
• 55 years  at the time they are required to join and they elect in writing not to join
• Contributing New Zealand Government Superannuation Fund “GSF” member or belong to an existing superannuation scheme as determined by the Board

However, should any employee in the above categories wish to join (except those in the GSF), they may. As the employer you must then contribute to the fund.

There are penalties for non-compliance should Employees join the Fund. (CINSF Act Sect 66 and 67)

Self-Employed Persons

Calculated earnings are the same as your assessable income under the Income Tax Act 1997 where the contribution rates are applicable.