The pension scheme will enable cocoa farmers to make voluntary contributions towards retirement
The Concerned Farmers Association of Ghana (CFAG) says it is elated with the newly launched cocoa pensions scheme for farmers across the country.
This comes after President Akufo-Addo launched the scheme for some 1.5 million farmers to enable them to make voluntary contributions towards their retirement, while the Ghana COCOBOD makes a supplementary contribution on their behalf.
Nana Oboadie Boateng Opambour, President of the Association told Citi Business News the scheme must work towards reversing the existing trend where the youth is avoiding going into farming.
“This one is going to even encourage the youth to get into the cocoa sector because they know that unlike the past, they will at the very least receive some pension like other workers in the formal sectors. The critical thing, however, is we are going to manage and manage it well. We need an independent body to ensure this scheme succeeds.”
Launching the scheme at the Jubilee Park in the Ashanti Region on Tuesday, December 1, President Akufo-Addo explained the scheme guarantees a decent retirement income for cocoa farmers for life which ensures that they can maintain decent livelihoods after retirement.
He however implored all cocoa farmers to sign on to the Cocoa Farmers Pension Scheme, to relish the full benefits.
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