Foreign Workers (or Non-Resident Workers)

Fund is designed to pay pensions on retirement. To ensure this aim is met, there are very limited provisions for withdrawal from the Fund.

A member, who has become a resident in the Cook Islands solely to work on a contract of employment of not more than three years, is entitled to a benefit on their permanent departure from the Cook Islands. That benefit will be paid as a lump sum equal to the total of their employee and employer contributions plus investment earnings in the period plus any balance in their Voluntary Account. Payment of the claim is subject to a 6 month waiting period following their permanent departure from the Cook Islands.

Subject to conditions, a member that has worked in the Cook Islands for 3 years or longer, will also be entitled to elect to transfer the balance of their employee and employer contributions plus investment earnings to a superannuation fund in their country of residence. Depending on their country of residence there may be tax implications in regard to the transfer of funds. Please contact your tax advisor if required.