Morocco to Raise Retirement Age to 65 in Pension System Overhaul

During a meeting with the commission in charge of the pension reform, the minister presented the conclusions of a study on the pension system in Morocco in the public and private sectors, reports Al Akhbar.

The study recommends, among other things, "to ensure the sustainability of the pension system, to establish justice and to preserve acquired rights," said the minister. In this sense, it was suggested to "gradually raise the retirement age to 65 years, including in the private sector, while increasing the percentage of contributions."

To this end, she proposed "the adoption of a unified ceiling for the basic scheme equal to twice the minimum wage for both the public and private sectors, in order to facilitate the future transition to a unified basic scheme, and to reduce the replacement rates of high salaries in the public sector."

In this context, the minister announced that an agreement had been reached to present strategic guidelines between January and March 2023, in addition to the development of a vision and a roadmap for the reform of pension systems. In April 2023, adds the same source, reform scenarios and a roadmap will be approved for implementation starting in May 2023.