CMR’s Investment Plans and Pension System Reform: Insights and Updates

2023-10-28 21:08:56

The Moroccan Pension Fund (CMR) plans an investment of 18 million dirhams (MDH) for 2024, according to the report on public establishments and enterprises (EEP) accompanying the PLF-2024.

For 2025, the CMR plans an investment budget of 29 MDH and 25 MDH for 2026, specifies this report published on the website of the Ministry of the Economy and Finance.
The amount of investment made in 2022 amounted to MAD 19 million and should reach MAD 44 million in 2023, reports the same source.

The technical balances of the civil and military regimes were established, at the end of 2022 respectively at -6.845 billion dirhams (billion dirhams) and -1.373 billion dirhams and should reach, at the end of 2023, -8.365 billion dirhams and -1.88 billion dirhams, highlighting the contraction of reserve funds (65.8 billion dirhams) which are expected to be exhausted in 2028. The 2024-2026 forecasts confirm this trend of deterioration, reports MAP.

Despite the significant impacts of the parametric reform of civil pension systems carried out in 2016 in terms, in particular, of a reduction in the exhaustion of reserves by 5 years, the technical deficits of the CMR, recorded from 2014, continue to dig and are expected to lead to the depletion of reserves in 2028.

In this context, the work to examine the deliverables of the design study of a retirement system with two poles “public” and “private”, was continued, in 2021, in accordance with the scenario validated in 2003 by the Commission responsible for this matter.

The project to reform civil pension systems is currently being examined in consultation with economic and social partners, notes the report. And to note that the CMR continues the execution of its 2023-2026 strategic plan, as outlined in the program contract concluded with the State for the period 2022-2024 and which is structured into six axes, namely experience customer, management of reserve funds, human capital, operational excellence, image, communication and transformation management.

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