Only cocoa farmers with passbooks will benefit from pension schemes – NAPRA

The National Pensions Regulatory Authority (NPRA) has advised cocoa farmers in the country to acquire COCOBOD pass books to benefit from the government’s Cocoa Farmers Pensions Scheme.

Mr Hayford Atta Krufi, the Chief Executive Officer of the NAPRA explained the Authority was collaborating with the COCOBOD to register 1.5 million cocoa farmers to benefit from the scheme, but added only farmers who had passbooks would be registered to benefit.

He therefore advised cocoa farmers who did not have the passbook to contact their various cocoa purchasing clerks as soon as possible, saying NAPRA had started the implementation of the scheme among the farmers.

Mr Krufi gave the advice when addressing hundreds of farmers at a sensitization forum on the three-tier pensions in Sunyani on Friday, organised by the NAPRA, to mark the National Pensions Awareness Week.

Highlighting on the scheme, Mr Krufie explained only five percent of proceeds of beneficiary farmers would be deducted at source and invested into the scheme.

He said after five years of investment, all beneficiaries were qualified for the benefit of the scheme which include; survivors benefit and advised the farmers to cooperate with the COCOBOD and register with the scheme for future security.

Mr Krufi said President Nana Addo Dankwa Akufo-Addo had directed the NAPRA to intensify public education to ensure all cocoa farmers understood the concept and register to benefit from the scheme to make life comfortable for them on retirement.

Madam Justina Owusu-Banahene, the Bono Regional Minister lauded the scheme and commended the NAPRA and government, saying it would provide excellent retirement package and security for the cocoa farmers in the country.

Source: GNA