Cook Islands National Superannuation Fund: Actuarial Valuation

The Cook Islands National Superannuation Fund, overseen by Aon New Zealand, underwent its latest actuarial valuation as of December 31, 2022. This is a routine check performed every three years to ensure the Fund’s financial health and compliance with demographic expectations, using local data to adjust pension rates and valuations accurately.

Key Highlights:

  • Fund Members: As of the end of 2022, the Fund had 13,226 active contributors and 260 pensioners.
  • Financial Status: The Fund’s total assets were valued at approximately $206 million. After accounting for liabilities, a surplus of about $448,690 was reported, indicating a stable financial position.
  • Investment Returns: The future investment return was assumed at 5.25% per annum, with a similar rate used for discounting pension liabilities.
  • Pension Adjustments: Based on the latest demographic data from the Cook Islands, specific adjustments were made to the pension conversion rates, which determine how much pension is paid per $1,000 of lump sum available at retirement.

Read the full report here.

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