Morocco to Implement New Retirement Pension System Starting May 1
Rabat — The National Social Security Fund (CNSS) announced that May 1 is the starting date on which they will implement old-age pensions, with retroactive payments dating back to each individual's retirement date.
According to the CNSS announcement, starting May 1 and under Decree 2.25.265, people who retired between January 1, 2023, and the effective date of Law No. 02.24 will qualify for old-age pensions if they have between 1,320 and 3,240 days of insurance coverage. Benefits will be paid retroactively from their retirement date.
The minimum pension amount will vary between MAD 600 and 1,000 ($60-$100) , depending on the number of insurance days accumulated by each beneficiary. These pensions will also include Mandatory Health Insurance (AMO) coverage.
In cases where an insured person with at least 1,320 insurance days has died, their eligible dependents can apply for survivor benefits, the CNSS stated.
Under current legal provisions, for retirees who don't meet the minimum requirement of 1,320 contribution days to qualify for an old-age pension, they or their eligible dependents (in case of death) can request a refund of both their contributions and those of their employer.
Eligible individuals can submit applications through the 'TAAWYDATI' (my compensations) portal or at their nearest CNSS agency starting May 1.
Read also: Morocco Lowers Pension Eligibility to 1,320 Workdays Under New Social Security Law
Meanwhile, under Decree 2.25.266, new measures aim to provide year-round social and medical coverage for share-based fishermen and their dependents.
The criteria and methods for calculating their social security contribution days, along with the distribution procedures for overall revenue from share-based fishing vessels, will be defined by a decision from the Minister of Economy and Finance, according to the CNSS.
Both decrees — 2.25.265 concerning old-age pensions and contribution refunds, and 2.25.266 addressing income smoothing for share-based fishermen — were approved last Thursday by the government council.
This new pension system is part of Morocco's larger efforts to digitize its bureacratic systems. Tags: MoroccoPension reformRetirement reform
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