The office of the Cook Islands National Superannuation Fund now submits to members the CINSF Annual Report and Financial Accounts for the year ending December 2020.
In summary, the Fund’s total net assets have grown by $20.2m from $188m in 2019 to $208.2m in 2020. Combined contributions were $11.4m in 2020 down from $18.4m in 2019, mainly due to the reduction in contribution rates due to COVID19. Benefit Payments were $5.2m, up from $3.4m in 2018. The Fund’s expenses remained stable with a minor increase of $0.2m. In addition, 950 new Members joined the Fund, bringing total membership to 12,688 at the end of 2020, and pensioners also increased to 331 as at the end of 2020.
The declared returns to Members for 2020 are set out below:
CINSF Conservative Fund 6.8%
CINSF Balanced Fund 8.1%
CINSF Growth Fund 9.7%
The Investment Fund returns are a combination of the change in market value plus any distributions, which are reinvested back into the Funds.
Individual statements are now available online and can be accessed through the member login. If you need assistance logging onto the member portal, please contact the CINSF Office.
Please click on the file below to download and view: