Holding of the 6th session of the Board of Directors of the Moroccan Retirement Fund : 17/12/2018

Holding of the 6th session of the Board of Directors of the Moroccan Retirement Fund

​Mr. Mohamed BENCHAABOUN, Minister of Economy and Finance, headed, December 17th 2018, on behalf of the Head of Government, the sixth session of the Board of Directors of the Moroccan Retirement Fund « CMR » under the sixth term.Were present during this meeting members of that board namely the State representatives, local authorities, the civil and military pension schemes' members.

In his opening speech, the Minister expressed his deep gratitude to the members for their contribution to the smooth functioning of the Council's work and its ongoing collaboration with the Fund to better serve its users and achieve its strategic objectives. He also congratulated the Fund for the certification of its Quality Management System according to the ISO standard 9001 2015 form and the ISAE 3402-type II certificationrtifying the copmliance of the internal control system of the Management Division of the Portfolio with the international standards.

In this regard, Mr. BENCHAABOUN recalled the government guidelines of the year 2019 which provide for the creation of new mechanisms for financing investment projects, based on partnership between the State and institutional actors, particularly, domestic pension funds while asserting the need to involve the Moroccan Pension Fund in this dynamic.

The Minister stressed the importance of the Fund as a major actor in the management of public sector pension plans in Morocco. He emphasized that the latter must ensure the financial stability of the pension plans it manages in order to meet its commitments to retired persons and their rights holders.

He also indicated that the Government, after the adoption of the parametric reform in 2016, has initiated the second step aimed at a global reform of the domestic pension system. As such, a consultancy group was appointed for the detailed elaboration of this system which would serve as a discussion platform with the social partners before deciding on the content of this reform and its implementation.

In addition, Mr. BENCHAABOUN expressed his satisfaction with the steps taken by the « CMR » to improve the quality of the services to users, particularly those relating to monitoring operations for the maintenance of pension rights and the enhanced automatic processing in the area of liquidation, payment and pension revisions.

He also welcomed the efforts to control the Fund's administrative and financial management costs.

After the discussion of the points included in the agenda, the Council concluded its work with the adoption of the draft action plans and the budget for the 2019 financial year.

​ The meeting ended with the reading of a letter of loyalty and commitment to His Majesty King Mohamed VI, May God Assist Him.