Our Cook Islands ‘super’ fund is not that super at all...

Saturday November 03, 2018 Published in Smoke Signals

You have to feel sorry for those long suffering suckers that have money locked up in the Cook Islands National Superannuation Fund.

The amazing 2.1 per cent return at the end of August has become an even less impressive 1.4 per cent at the end of September. And with the sell-off on markets in the last few weeks the year to date return at the end of October could be negative.  Not that the investment managers or management will be too worried, they will continue to draw fat fees and travel the world.

TOP COP SUBJECT OF RUMOURS

Topping the list of coconut wireless rumours yesterday was news that Police Commissioner Maara Tetava had stepped down. Rumours of his departure began several weeks ago, and at one time it was suggested Bob Williams would be taking his place. The coconut wireless went into overdrive on Thursday, with one commentator claiming the commissioner had been shown the door. This was later refuted by another source who said the commissioner’s contract was up.

LATEST TRIP CALLED OFF

Our ever-travelling PM has made a rare decision not to embark on his latest planned excursion, this time to that well-known source of endless cash – China. However, keeping the side up is another budding frequent flyer, the effervescent BTIB minister, George Maggie. Just what he will be doing there remains a mystery.

IT’S HEATING UP OUT WEST

Things are heating up in Arorangi, and it’s not just the sun that’s the source of rising temperatures. Rubbish burning at an apparent building site near the Edgewater has been the source of numerous complaints this year, with the National Environment Service doing what it always does about the problem – absolutely nothing.

WHAT IS THIS ‘OVERSTAYER’ TO DO?

Recently a German tourist missed his flight from Rarotonga to Auckland. No big deal, this kind of thing happens all the time and people figure it out and find themselves on another flight off the island. However, for this tourist it was the beginning of an ongoing saga. He didn’t act quickly to push his other flights from Auckland to Singapore and then on to Hamburg, so he lost all three flights home. He didn’t have much cash, no credit card, no phone and no idea what to do. He told the police about his dilemma and they wished him “good luck”. He then went to the Immigration Office in Avarua seeking advice or assistance and was told there was “nothing they could do”, - and that he should get his family to send him money. This is not an option as his mother is a pensioner with very limited funds and she doesn’t have the money to pay his airfare home. He used his cash to buy some food and pay for accommodation until it ran out. Of course his predicament is a result of bad planning on his part, but the fact remains that he has no work visa to get a job and no money to leave Rarotonga... What is he to do now?

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