Pulse.com.gh logo

NPP Government Pension for cocoa farmers to be rolled out in 2018

The scheme, which was originally proposed in the COCOBOD Act of 1984 but was never implemented, will start operating in 2018.

  • Published:
play Cocoa farmers
24/7 Live - Subscribe to the Pulse Newsletter!

Government is on the verge of rolling out a pension scheme for cocoa farmers in the country.

The scheme, which was originally proposed  in the COCOBOD Act of 1984 but was never implemented, will start operating in 2018.

This was made known by the Chief Executive Officer of the National Pensions Regulatory Authority, Hayford Atta Krufi.

READ MORE: No reduction in cocoa price despite world price slump

He told Citi News that his outfit is processing data of coca farmers in the country, one of the key features that delayed the implementation of the pension scheme for the farmers.

“After the next cocoa season, this pension scheme will be in place; that is the time table that we are following so today’s meeting marks the beginning of a process that we hope that within one year will come into completion so that we can have a pension scheme in place for our cocoa farmers," he said.

“There is data and as I indicated the various license buying companies have got their own data but there is the multiplicity of it, so what COCOBOD is doing now is to collate all the data and then do the disseminations”, he explained further.

“So COCOBOD is in the process of collecting the entire country’s farmer’s data and that is the scheme upon which the pension scheme is going to be built," he concluded.

Speaking at the 2017 celebrations of Kundum Festival for the people of Nsein in the Nzema East Municipality of the Western Region in September, Vice President Dr. Mahamudu Bawumia, had said the scheme will also benefit all persons in the cocoa value chain.

He noted that “we are working on the pension scheme for cocoa farmers. It will be the first ever cocoa pension scheme for cocoa farmers. There is work going on seriously to try to launch it this year.”

READ MORE: Scientists issue health warning of looming mango disease

“The scheme will ensure that all workers in the cocoa value chain will benefit from a pension scheme so that upon retirement, these hardworking people, who have kept Ghana in the global limelight will have something to sustain them. This project is directly in line with the government’s vision for enhancing financial inclusion,” he added.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 Economy Bawumia says 'cedi depreciation temporary': Adviser says it...bullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Menzgold Ghana Investment company closes down its Gold Vault Marketbullet
4 Shirley Frimpong-Manso and Ken Attoh owe The Royal Bankbullet
5 Free Decoder Promo StarTimes launches most affordable pay-tv...bullet
6 Salaries In 2018 Here are the dates public workers will be...bullet
7 Economy of Ghana Foreigners can’t dominate our economy –...bullet
8 Government Contracts No registration, no government...bullet
9 Ghana Cedi Mahama shades Bawumia over Cedi depreciationbullet
10 Star Phone Services One Smart Star opens its first...bullet

Top Videos

1 New Discovery Ghana discovers new mineral, lithium in commercial quantitiesbullet
2 Money Alert Meet Africa's richest womanbullet
3 Video We are determined to move Ghana beyond aid - Bawumiabullet
4 Forbes 2018 Africa's billionaires rich listbullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 Entrepreneurship How to be resourceful as an entrepreneurbullet
8 Support Finance minister buys Kantanka carbullet
9 New Phones Nokia MWC 2018 Event in 5 minutesbullet