Over 160 cocoa farmers register as Nasfund contributors

MORE than 160 cocoa farmers in Rai Coast, Madang, have access to superannuation services, after registering as National Superannuation Fund (Nasfund) contributors.
Through Nasfund’s Eda Supa product, members of the Poro Cocoa Cooperative Society of Astrolabe Bay local level government (LLG) recently joined the fund and received their membership cards.
The registration of the farmers was made possible through the fund’s partnership with the Madang Cocoa Company Limited (MCCL) and Madang Cocoa Cooperative Association (MCCA).
Nasfund special projects executive Judah Waffi and a team from the Madang branch visited Bang village to present the farmers with their membership cards.
They also registered the remaining members of the cooperative.
Waffi explained the importance of saving through superannuation, and the benefits of saving with Nasfund.
“The Poro Cocoa Cooperative is the first in Madang to register as members of Nasfund,” Waffi said.
“You now join more than 600,000 members from other industries who contribute to the fund.
“You can benefit from services including the Nasfund membership discount programme which allow you to earn discounts from approved providers.
“This is part of our efforts in ensuring that farmers and SME operators, including our cocoa growers across Madang have the opportunity to save for retirement, through superannuation, with Nasfund.”
Chairman of Bang Cocoa Cooperative Society, Solomon Dumuk acknowledged the need for his farmers to develop a savings culture.
“Previously, when our farmers sold their cocoa, almost all the money received was spent in town, with nothing saved for use later,” Dumuk said.