Contributions collected by pension schemes reached 54.2 billion dirhams (MMDH) in 2021, up 9.6% compared to 2020, according to the 9th annual report on financial stability, published by Bank Al-Maghrib (BAM), the Insurance and Social Welfare Supervisory Authority (ACAPS) and the Moroccan Capital Market Authority (AMMC).
Benefits recorded an increase of 4% to 59.8 billion dirhams (MMDH), the report said, adding that the reserves constituted by these schemes amounted to 330.8 billion dirhams, an increase of 330.8 billion dirhams. 0.9% compared to 2020. Over the past five years, these reserves have recorded an average annual increase of 3.3%.
The reserves of the civil pension scheme (CMR-RPC) stood at 75 billion dirhams, down 5% compared to 2020 and 3% on annual average over the last five years.
Regarding the cumulative technical deficits of the regime over the same period, they totaled an amount of 31.9 billion dirhams and, since the recording of its first technical deficit in 2014, a sum of 40.1 billion dirhams.
As for pension plan investments, they amounted to 322.8 billion dirhams in 2021, up 1% compared to 2020 and 2.4% over the last five years. These investments, apart from those of the long-term branch of the National Social Security Fund (CNSS), consist of 60.5% bonds and 30.2% stocks and shares.