The technical deficit of the retirement systems in the face of the increase in contributions to 54.2 billion dirhams (report) – Hoy 24

The ninth annual report on financial stability, issued by Bank Al-Maghrib, the Moroccan Capital Markets Authority and the Insurance and Social Reserve Control Authority, revealed the continuation of the accumulated technical deficit of the system during 2021, reaching 31.9 billion dirhams, and 40.1 billion dirhams since recording its first technical deficit in 2014.

The same report showed an increase in contributions collected by pension systems, reaching 54.2 billion dirhams in the same year, an increase of 9.6 percent compared to 2020.

For its part, the report announced that clearing saw a 4 percent increase to AED59.8 billion, adding that reserves formed by these systems amounted to AED330.8 billion, an increase of 0.9 percent compared to 2020. It also recorded that these reserves have grown at an average annual rate of 3.3 percent in the last five years.

The reserves of the civil pension system amounted to 75 billion dirhams, registering a decrease of 5% compared to 2020 and 3% as an annual average during the last five years.

Regarding pension system employment, it amounted to AED322.8 billion in 2021, an increase of 1 percent compared to 2020 and 2.4 percent over the past five years. These investments, excluding the long-term investments of the National Social Security Fund, consist of 60.5 per cent of debt bonds and 30.2 per cent of shares and social participations.