Kia Orana Members,
On 23 June 2017 the Cook Islands National Superannuation Amendment Act 2017 was passed into law.
The amendment had been previously circulated to the members and was submitted to Parliament in the same form.
The changes address the Financial Secretaries statutory position on the Board and provides for the removal of that position in future. The amendment also provides for the Board to appoint additional qualified expertise to the Board when required.
A new provision now allows members that permanently depart the Cook Islands, irrespective of the amount of time lived in the Cook Islands, the ability to transfer their Funds to an approved scheme in the Country they migrate to.
A copy of the signed amendment is attached for member viewing: 2017 Amendment Act