Home NEWS COCOBOD introduces Farmers Pension Scheme

COCOBOD introduces Farmers Pension Scheme

Source: Ben LARYEA

The Ghana Cocoa Board (COCOBOD) has as part of the effort to enhance the lives of cocoa farmers have introduced the cocoa farmers pension scheme to provide a decent lump sum for coca farmers during their retirement from active service.
The Pension Scheme is aimed at ensuring a sound financial package for cocoa farmers by improving their welfare and also make cocoa farming lucrative to the youth for the sustainability of the cocoa sector.

Speaking at the inauguration of the board of trustees to manage the scheme in Accra, the Board Chairman of COCOBOD, Mr. Peter Mac Manu said the welfare of the farmers is of paramount importance to government due to the commitment exhibited by farmers to scale up the cash crop from generation to generation which have earned a huge amount of foreign exchange to support the country’s economy.

The trustees are Mr. Adu Mensah (Chairman), Mr. Samuel Danquah, Mr. Peter Osei Akomeah, Mr. Otchere Akuamoah, Alfred Annye, Charles Gyamfie, Leticia Yankee, Joyce Dapaah and Charles Korankye.

He said cocoa farmers have contributed immensely to socio-economic development of the country in the areas of job creation and sustained the cocoa industry in partnership with government and judicious use of farm incentives and inputs among others.

“They must be celebrated and rewarded as such,” he stated and however commended management for the successful implementation of the pension scheme.

The Deputy Operating Officer of COCOBOD, Dr. Emmanuel Opoku who represented the Chief Executive Officer (CEO) Mr. Joseph Adu Boahen, in a speech read on his behalf said the implementation of the scheme have come to reality and will help address the financial needs of cocoa farmers during their retirement.

He said government will continue to prioritise the needs of the cocoa farmers hence the introduction of the pension scheme is timely and will support also the financial needs of the farmers as well as their families.
He therefore urged all cocoa farmers to join the scheme for their own personal financial benefits in the future.

For his part, the Minister of Employment and Labour Relations, Mr. Ignatius Baffour urged management of COCOBOD to work closely with the trustees of the scheme and bring to bear their best in transforming the wellbeing of cocoa farmers.

“The policy will allow farmers in the cocoa sector to enjoy the fruits of their labour, adding the farmers have contributed tremendously towards the growth and development of the country.
In a brief remark, the Minister of Agriculture Dr Osei Akoto said the scheme is a laudable initiative and commended COCOBOD for their foresight of the welfare of cocoa farmers, saying it is the first of its kind in the history of the cocoa industry.


Please enter your comment!
Please enter your name here