CDG Prévoyance unveiled the annual results and the financial and operational performance of the National Pensions and Insurance Fund (CNRA) and the Collective Retirement Allowance Scheme (RCAR).
These results were unveiled during the meetings of the Management Committees, held on April 18, 2022 and chaired by Abdellatif Zaghnoun, CEO of CDG. A major player in the social security sector, CDG Prévoyance 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. 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 represents 42% of the total turnover of the CNRA and amounted to 839.03 MMAD. The “Recore” supplementary pension plan 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 increased to 125,712 in 2021. Regarding 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 annuities, aid and advances from several solidarity funds entrusted to management by the public authorities (Work Fund, Daam Al Aramil, Family Mutual Aid 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. Thus, the 2021 financial year ended with a net result of 160.18 MMAD.
RCAR improves its viability horizon to 2052
The RCAR served, in 2021, 7,198.02 MMAD in benefits for the benefit of 140,678 pension beneficiaries against 6,777.95 MMAD in 2020 for the benefit of 136,299 beneficiaries. On the actuarial level, the RCAR General Scheme, as an open group, improves its viability horizon to 2052 and reduces its implicit debt to 75 billion DH. The net annual performance of the RCAR portfolio had a positive impact on its valued market value, which rose 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. It should be noted that 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 governance and the widening of the scope of investments providing the regime with more leeway for better performance of the capital invested while ensuring rigorous and contained 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.