Cocoa Farmers Urged to Join Pension Scheme to Enjoy Benefits
The government, through COCOBOD, has recently launched a Cocoa Pension Scheme. This scheme aims to provide financial support to cocoa farmers during their old age, ensuring they have a safety net and can enjoy their retirement years with dignity.
Mr. Samuel Asare Agyarko, a Cocoa Extension Officer from the Mim area, highlighted the details of the scheme during an interview on the “Rejoice Akuafo Mmo” program. According to Mr. Agyarko, the registration process for the pension scheme will commence soon.
As part of the scheme, COCOBOD will deduct 5% from the sales of cocoa farmers, while also contributing an additional 1% to the farmers’ pension fund.Farmers participating in the scheme have been issued cocoa cards, which will record their contributions. COCOBOD will also facilitate the opening of accounts for farmers, where their deductions and contributions will be deposited.
Eligibility for the scheme requires individuals to be cocoa farmers, and during the registration process, they will need to provide details of their next of kin and other beneficiaries. The pension payouts are structured to provide financial support after the age of 60, with farmers receiving allowances for a duration of 15 years.
Mr. Agyarko emphasized the importance of cocoa farmers enrolling in the scheme to secure their future and protect themselves from poverty during retirement. By participating in the Cocoa Pension Scheme, farmers can build a financial cushion that will enable them to lead comfortable lives in their later years.
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