Employer Contributions Rates

The rate of contribution required to be made is the same for your employee and you calculated as a percentage of your employee’s gross earnings.

You the Employer and your Employees each contribute a percentage of gross earnings (before tax):

  • 5% per year

Your employees may also make voluntary contributions. These may be made either as a lump sum amount for a minimum of $1000 or as a regular contribution of not less than 1% of their gross earnings. Voluntary contributions are paid into a Voluntary Account held in the employee’s name. Unlike the compulsory contributions set out above, they are not matched by you.

Your Employee Gross Earnings include:

  • Wages
  • Salary
  • Allowances
  • Holiday pay
  • Long service leave pay
  • Overtime
  • Bonuses
  • Gratuities
  • Extra salary
  • Commissions
  • Directors fees
  • Honoraria
  • Emoluments
  • Remuneration of any kind

Your Employee Gross Earnings DO NOT include:

  • lump sum payments (other than accrued holiday pay) paid as a bonus gratuity or retiring allowance on termination of employment
  • payments from a pension or annuity from past employment
  • dividends (unless you are a shareholder employee)
  • any amount earned as an employee from employment outside the Cook Islands from an employer who is not resident in and does not carry on business in the Cook Islands.
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