Ten-member board for cocoa pension scheme inaugurated
Board members of the cocoa pension scheme have been urged to display good faith in every decision they take for the betterment of the scheme
Ignatius Baffour Awuah, the Minister of Employment and Labour Relations, has charged the newly constituted board of trustees for the cocoa farmers’ pension scheme to use their experience to ensure a smooth running of the scheme.
He said the experience of the board was key in managing the affairs of the scheme to the benefit of the cocoa farmers across the country.
The minister said this on Wednesday (20 October) when he inaugurated a ten-member board of trustees for the scheme in Accra.
The scheme is aimed at ensuring a decent pension for cocoa farmers, improving their welfare and making cocoa farming attractive to the younger generation for the sustainability of the cocoa sector.
The COCOBOD Law 1984 (PNDC Law 81) enjoins the board of directors of COCOBOD to implement a contributory insurance and welfare scheme that provides a decent pension for cocoa farmers.
In furtherance to the provision of the law, President Akufo-Addo in December 2020 launched the cocoa farmers’ pension scheme in Kumasi as a demonstration of his commitment towards improving the welfare of cocoa farmers in the country.
Awuah said the scheme was a blessing because the cocoa farmers have served the country over the years to export the produce and earn foreign income.
He said the board was making history to honour the gallant cocoa farmers for their contributions to the development of the country.
The minister said research revealed that most workers spent a major part of their salaries on their aged parents, adding that the scheme would afford the retirees to have some funds for their restful periods.
A speech read on behalf of Joseph Boahen Aidoo, the chief executive officer, COCOBOD expressed confidence that the scheme would stimulate the youth to venture into cocoa farming for sustained growth.
Aidoo expressed readiness to speed up the registration of cocoa farmers onto the Scheme and appealed to the farmers to get their cards ready for the registration.
Hayford Atta Krufi, the chief executive officer, the National Pension Regulatory Authority (NPRA), urged the board to display good faith in every decision they take for the betterment of the Scheme.
“Upgrade your knowledge and understanding of the scheme to take better decisions that will benefit the farmers and the country as a whole,” he said.
Alhaji Alhassan Bukari, the national president of the Ghana Cocoa, Coffee and Shea nut Farmers Association (COCOSHE), commended the government for the initiative and urged all cocoa farmers to support the Scheme towards its success.
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