The Moroccan Retirement Fund
Due to the number of its members and pensioners, the Moroccan Pension Fund (CMR) has established itself as a leader in the social welfare sector in Morocco.
The Moroccan Pension Fund is a public institution with legal personality and financial autonomy. By its social mission, the Fund manages the following pension plans: :
- Civil Pension plan;
- Military pensions plan(Royal Armed Forces and Auxiliary Forces);
- Additional and optional plan ATTAKMILI pension plan;
- Non-contributor schemes on behalf of the State (disability pensions, allowances of former resistants and members of the Liberation Army, some annuities, and instituted pensions and allowances, for the most part, prior to independence).
In addition, the CMR operates services on behalf of third parties through the management of:
- Conventional withholding to the benefit of finance companies, insurance companies and associations of Social Works (AOS);
- Withholding taxes on pensions under the statutory health insurance (AMO) donated to the National Fund for Social Welfare Organizations (CNOPS);
- Benefits in favor of the foundations: Hassan II Foundation for Social Works of former military agents, Mohammed VI Foundation for the Promotion of Social Works Education-Training;
- Benefits in favor of the Ministry of Economy and Finance;
Regarding the mode of operation of basic plans, the principle of graded distribution is adopted: the pensions of retirees and those of their successors are funded by contributions from members and employers' contributions. As for the supplemental plan ATTAKMILI, it operates in the mode of capitalization.
Financial surpluses given out by basic plans, constitute reserved funds managed directly by the Fund and placed in the financial market by Order No. 1253-1297 by the Ministry of Economy and Finance, laying down operating provisions of pension plans managed by the Moroccan Pension Fund as well as the distribution of resources among permitted uses.
