Kia Orana Members,
The quarterly report provides you with recent updates from the CINSF Board and Office to keep you informed about the CINSF.
Departing CINSF Acting Chairman Richard Neves (left) is presented with a traditional spear from the new Chairman of the Board Heinz Matysik
The Board of Directors – The CINSF Board farewelled Acting Chairman Mr Richard Neves. Richard provided valuable leadership and direction during his tenure and the CINSF Board and office wish him well in his new endevours overseas.
The CINSF Board formally appointed Mr Heinz Matysik, the non chamber of commerce employers representative, as the new Chairman of the Board. Heinz is a well known local Cook Island Lawyer and is a partner in the Cook Islands Law firm Little & Matysik.
Public Consultation – The results from the public consultation on changes to the Fund received overwhelming support from both members and employers. The CINSF Board of Directors has communicated this to the Cook Islands Government, and they in turn have endorsed the recommendations including the drafting of amendments to the legislation for portability of members funds, changes to the Board composition, and coverage of all employers.
New Regulation – A new regulation to register all remaining employers and classes has been approved by the Cook Islands Cabinet and the Executive Council requiring those employers to register to the Fund by 1 July 2016.
Annual Report – The Audit process has begun to finalise the Funds annual financial accounts and investment returns to members, and we expect to release the 2015 annual report in June.
Since the introduction of member investment choice a number of members have taken up the opportunity to review their risk appetite and adjust their investment options to suite them.
We would like to encourage all members to review their risk profile to ensure their investment meets their needs to provide security in retirement.
If any assistance is required the CINSF office is here to help.
Damien Beddoes
CEO.
