Latest news with #Decree2.25.265
Morocco World
07-04-2025
- Business
- Morocco World
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
Ya Biladi
07-04-2025
- Business
- Ya Biladi
Morocco's social security fund announces implementation of old-age pension starting May
Morocco's National Social Security Fund (CNSS) announced on Monday that, starting May 1, 2025, old-age pensions will be implemented for individuals who retired between January 1, 2023, and the effective date of Law 02.24. This measure is part of Decree 2.25.265, which was recently adopted. To qualify, beneficiaries must have between 1,320 and fewer than 3,240 days of insurance. The pension will be retroactively applied from the retirement date. The monthly amount will range from 600 to 1,000 dirhams, depending on the number of contribution days, and will include coverage under the Mandatory Health Insurance (AMO). In the event of the death of an insured person who met the 1,320-day requirement, their beneficiaries will be eligible to apply for a survivor's pension. If the insured person did not meet the minimum required days, they or their beneficiaries may request a reimbursement of contributions—both theirs and the employer's—in accordance with current legislation. Applications can be submitted starting May 1 via the «TAAWYDATI» portal or at CNSS agencies. Additionally, under Decree 2.25.266, the method for calculating contribution days for share fishermen, along with the redistribution of their vessels' income, will be determined by a decision of the Minister of Economy and Finance. This aims to ensure continuous social and medical coverage for this category of workers. Both decrees were adopted during the government council held last Thursday.
