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 2019.
In summary the Funds total net assets have grown by $31.2m from $156.8m in 2018 to $188m in 2019. Combined contributions increased by $2.8m from $15.6m in 2018 to $18.4m in 2019. Benefit Payments were $5.2m, up from $3.4m in 2018. The Funds expenses remained stable with a minor increase of $0.2m. 974 new members joined the Fund bringing total membership to 12,008 at the end of 2019, and pensioners also increased to 278 as at the end of 2019.
The declared returns to members for 2019 are set out below:
CINSF Conservative Fund 9.30%
CINSF Balanced Fund 14.40%
CINSF Growth Fund 18.10%
The Investment Fund returns are a combination of the change in market value plus any distributions, which are reinvested back into the Funds. As noted in the 2018 Annual report, in the later months of 2018 the impact of the negative returns on global shares, due in part to escalating international trade tensions and the US Government shutdown, adversely impacted Fund returns as at the end of the 2018 financial year.
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: