CDG Prévoyance, the Provident Branch of the Caisse de Dépôt et de Gestion in charge of managing the National Pensions and Insurance Fund (CNRA) and the Collective Retirement Allowance Scheme (RCAR), presented during the meetings of the Management Committees, held on April 18, 2022 and chaired by Mr. Abdellatif ZAGHNOUN, General Manager of CDG, the annual results as well as the financial and operational performance of two managed organizations, CNRA and RCAR.
In a particular context, CDG Prévoyance, a major player in the social welfare sector, has demonstrated its resilience and confirmed the solidity and relevance of its economic model aimed at a pension system that is fair, sustainable and accessible to current and future generations. future.
Furthermore, and in accordance with its vocation as a global and integrated operator working for the implementation of useful solutions, CDG Prévoyance continued, during the year 2021, the transformation of its Information System, by gradually deploying its new platform “Agilys 2.0”, a multi-fund and multi-product platform, initially covering all retirement product architectures.
It also continued to roll out the “E-Htiyati Members” digital package aimed at further simplifying exchanges with members and processing the “pensions” value chain according to fully digitized processes and with “zero paper” starting from the member up to the member and/or pensioner.
Finally, the year 2021 saw the launch of two new supplementary pension products, in the form of a deferred annuity product and an immediate annuity product, the subscription of which was initiated during the same year by certain institutional investors.
CNRA GOOD ACHIEVEMENTS IN CONTINUITY
For its own management activity, the CNRA was able to collect in 2021 a total amount of capital, premiums and contributions, of 1,978.34 MMAD.
The amount of constituent capital and indemnities received represent 42% of the total turnover of the CNRA and amounted to 839.03 MMAD. The “RECORE” supplementary pension scheme represents 58% of the CNRA’s overall turnover with an amount of contributions of 1,146.34 MMAD.
The benefits of own management reached a total amount of 1,587.22 MMAD. The number of beneficiaries has increased to 125,712 in 2021.
With regard to the management activity on behalf of third parties, the CNRA proceeded to the management, processing and payment of a total amount of 1,223.21 MMAD for 232,040 beneficiaries under pensions, aid and advances from several solidarity funds entrusted to management by the public authorities (Work Fund, Daam Al Aramil, Family Support Fund, etc.).
The net annual performance of the CNRA portfolio was positively impacted by the appreciation of its market value valued at 24 billion dirhams as of December 31, 2021. As a result, the 2021 financial year ended with a net result of 160.18 MMAD .
RCAR GREEN RESULTS AND A HORIZON OF VIABILITY TO 2052
The year 2021 was marked by the publication of decrees modifying and supplementing certain methods of application of the General and Supplementary Schemes, introducing modifications relating mainly to the review of certain technical parameters, the improvement of certain services, the strengthening of the governance and the expansion of the scope of investments providing the plan with more leeway for better performance of invested capital while ensuring rigorous and limited risk management.
Similarly, RCAR’s activity was impacted by the application of Law No. 01.21, which makes the contractual staff of the Regional Education and Training Academies (AREF) subject to the civil pension system. Thus, the contributions and contributions collected, under the general and supplementary schemes, fell by 4.2% from 4,201.31 MMAD in 2020 to 4,022.91 MMAD in 2021.
In addition, the RCAR served, in 2021, 7,198.02 MMAD in benefits for the benefit of 140,678 pension beneficiaries once morest 6,777.95 MMAD in 2020 for the benefit of 136,299 beneficiaries.
Actuarially, the RCAR General Scheme, as an open group, improves its viability horizon to 2052 and reduces its implicit debt to MAD 75 billion.
The net annual performance of the RCAR portfolio had a positive impact on its valued market value, which appreciated to nearly 135 billion dirhams as of December 31, 2021. As a result, the 2021 financial year ended with a financial performance of 7% and a net result of 1,840 MMAD.
“The very satisfactory operational and financial achievements of the CNRA and the RCAR, the active participation of CDG Prévoyance in the various strategic projects initiated by the public authorities, the exemplary agility and the permanent commitment of the vital forces of CDG Prévoyance confirm the relevance of the 2018-2022 roadmap adopted for CDG Prévoyance and the strategic, natural and renewed ambition that the CDG Group has for the Social Welfare business in the broad sense and Retirement in particular.
The current and future period brings with it several issues and challenges on several levels… It will require even more agility, innovation and resilience to continue to make our contribution to the work of expanding social security coverage and reforming pensions among others.
By embodying and translating our values of excellence, responsibility and citizenship on a daily basis, we will together meet the challenges to come in the service of the economic and social development of our country and of the citizen” declared Mr. Abdellatif ZAGHNOUN, Managing Director of CDG, Chairman of the Management Committees of CNRA and RCAR.
