Contribution Rates

The rate of contribution required to be made is the same for you and for your employer. It is a percentage of your earnings. Your 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.

Earnings do not include:

  • lump sum payments (other than accrued holiday pay) paid as a bonus gratuity or retiring allowance on termination of employment, or
  • payments from a pension or annuity from past employment, or
  • dividends (unless you are a shareholder employee), or
  • 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.

For a self-employed person earnings are the same as your assessable income under the Income Tax Act 1997.

Members are required to pay in 5% of their earnings matched by 5% from their employer.

These contribution rates may be varied from time to time by the Queen’s Representative in the Cook Islands, on the recommendation of the Board and the Trustee.

Te vaitata ai nei koe i te koi moni pakari. Taniuniu mai ia matou +682 25515