Moroccan Bank Employees to Receive Salary Increase and Pension Benefits

The Professional Group of Banks of Morocco (GPBM) and the Inter-Bank Trade Union (USIB), linked to the Moroccan Union of Labor (UMT), have reached an agreement for bank personnel. The key points, announced this Monday, June 20, concern in particular the salary increase and the implementation of a supplementary pension scheme.

The agreement provides for a salary increase of 500 gross monthly dirhams for permanent employees as of June 30, 2023 earning an annual gross salary of 240,000 dirhams or less. This will take effect from June 1, 2023. Another key measure is the implementation of a supplementary pension for employees aged 40 and over who do not currently benefit from such a system. The contribution rate of 2% will be shared equally between the employer and the employee.

The generalization of this supplementary pension scheme, without distinction of rank, is considered "an important new achievement in promoting the right of staff to a decent retirement". In addition, to cope with the increase in the cost of living, the ceiling of the Tamwine card, an aid for the purchase of basic necessities, will be raised by 500 DH per step from July 1, 2023.

Other aspects remain under discussion to improve working conditions in the banking sector. These "structuring projects for the future" of the profession, as described in the press release, touch on various aspects: improvement of medical coverage, career and training management, adaptation of the collective agreement, facilitation of the adaptation of staff to economic and technological changes, and strengthening of social works.