All Cook Islanders aged 60 and over receive the Cook IslandsGovernment Superannuation payments (also known as the pension). Cook Islanders in some instances are entitled to New Zealand Government Superannuation, and can elect to choose a New Zealand Government Superannuation instead of the Cook Islands Pension.

Cook Islands Pension payments are paid for by today’s taxpayers, however over the next few decades, the Cook Islands population will age significantly.

This means the Cook Islands will have:

  • more people of retirement age, as a proportion of the population, than ever before; and
  • fewer ‘working-age’ people to pay tax to fund the greater cost of retirement income.

This will have significant implications for the ability of future Governments to fund not just a universal superannuation benefit, but also other vital areas such as health, education and law enforcement.

The Cook Islands National Superannuation Fund (the Fund) was established by an Act of the Cook Islands Parliament passed on the 24th November 2000, to address this future issue.

The Fund is designed to provide members with a means to save for their retirement. The Fund is intended to help give members financial security in their retirement or, in the event of their death before retirement, security for their dependants.

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