The pension scheme for cocoa farmers will take effect this month. Cocoa farmer’s pension scheme is going to enable registered cocoa farmers in any sector of the country to invest towards retirement or incapacitation, even ill health through setting aside a portion of their income.
Board of trustees appointed by Ghana cocoa( COCOBOD) and the government are to manage a special fund gotten from contributions of cocoa farmers thus, a maximum of 15% and a minimum of 5% of their cocoa produce.
Also, COCOBOD will contribute 1% of farmer’s produce on behalf of the beneficiary for the total amount to be managed by a dedicated fund manager.
Farmers registered on COCOBOD’s cocoa management system are allowed to join anytime they wish but must contribute for a minimum of 5years to qualify them to benefit from the scheme.
