Costs

The Cook Islands National Superannuation Fund discloses its costs within the summary audited financial accounts that are presented to members in the annual report. If members require a full copy of the Financial Statement, a copy can be obtained from the CINSF Office or from this website under the publications section.

The main costs to the Fund are as follows:

CINSF Cook Islands Office

The Cook Islands Office provides the operational functions of the CINSF as set down by the CINSF Board of Directors. The costs of the office include staff, rent, utilities, etc for the daily operations of the Fund.

Investment Managers

Investment management fees are deducted from the investments during the course of the year as a percentage of the individual fund. In addition, other costs may be charged when the Fund redeems investments or makes changes to the funds.

Administrators

The administrator of the Fund is Link Market Services and they charge a fee to the Fund for their services. These services include the maintaining of the register of members funds, distribution of returns, providing administration services to the CINSF Cook Islands Office, and other services when required.

Trustee

The Trustee for the Fund is Public Trust in New Zealand. Public Trust charge a set annual fee for their Trustee services which are wide in their scope in order to meet the responsibilities tasked to the Trustee in the Trust Deed. For special attendances, the Trustee may charge additional fees but only with agreement from the Chief Executive

Insurance

The insurance provider of the life cover for active CINSF members is AIA. The insurer is responsible for providing one times annual salary cover, based on annual contributions, for all active members, and this is charged to the individual member accounts.

Auditor

Deloitte are the Auditors of the Fund and also provide taxation advise on the Fund to the Trustee. Their fees may change from year to year.

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