Pension Plan Reform in Morocco: Each Day of Delay Costs 60…

Rabat – Each day of delay in the implementation of the pension plan reform costs Morocco 60 million dirhams, Government Spokesman Mustapha El Khalfi said Thursday.As of this year, civil pension funds will suffer from deficit, which will reach, next year, 3 billion dirhams, then 125 billion dirhams by 2021, which means that each day of delay in the implementation of the pension plan reform costs the country 60 million dirhams, the minister said at a press briefing following the weekly cabinet meeting.This situation is due to the fact that Morocco has moved from 12 affiliates per retiree in 1983 to three affiliates per retiree today, El Khalfi said, adding that the persistence of this situation, in the absence a reform plan, will make the government unable to allocate pensions according to current standards. Today, the reform of the pension system in a participatory, collective, progressive and solidarity-based approach is an inevitable option, the minister said, adding that the government will work to develop, by the end of the year, a vision of reform based on the results of dialogue with the unions. read more