Complementary pension schemes

Complementary pension schemes, on the other hand, are optional and aim to provide the insured with an additional pension on top of the basic scheme. They also differ in their operational modalities and are divided into three distinct schemes

What Is a Complementary Pension ?

A complementary pension serves to supplement the pension that an individual will receive upon retirement, thereby enhancing their standard of living in addition to the basic pension. It offers greater financial security and ensures the ability to maintain a certain quality of life after years of work.

What Are the Complementary Pension Schemes in Morocco ?

In addition to insurance and reinsurance companies that may offer complementary pension insurance contracts, Morocco currently has three organizations managing complementary pension schemes:

The complementary pension scheme managed by the Caisse Marocaine des Retraites (CMR)
The complementary pension scheme of the Régime Collectif d’Allocation de Retraite (RCAR)
The schemes managed by the Caisse Interprofessionnelle Marocaine de Retraite (CIMR)

What Benefits Do They Offer ?

The CMR manages an optional complementary pension scheme called “ATTAKMILI”, established by Ministerial Decree No. 46-05 of January 14, 2005. This scheme is designed for affiliates of the basic pension schemes managed by the CMR, namely the civil pension scheme and the military pension scheme.

ATTAKMILI operates as an optional, fully funded individual capitalization scheme. It functions based on an accumulation logic, where contributions and exceptional payments made by each member are recorded in full in an individual savings account on the first day of the month following their collection by the CMR. The total amounts registered in individual accounts form the ATTAKMILI Pension Fund. Ultimately, the final capital or annuity amount primarily depends on the contributions paid and the financial returns generated.

The RCAR complementary pension scheme was established by Decree No. 2-92-927 of January 7, 1993, which defines its implementation regulations. This scheme applies to employees affiliated with the RCAR general pension scheme, whose remuneration exceeds the ceiling of the general scheme.

While membership in this scheme is optional, once an employer enrolls, it becomes mandatory for all employees whose salary exceeds the general scheme ceiling.
The RCAR complementary pension scheme operates under a point-based mixed system of capitalization and distribution. Contributions from employees are managed under a capitalization system, generating an annuity, while employer contributions are used to pay additional allocations complementing the capitalization annuity.

The CIMR is a mutual pension fund governed by Law No. 64-12, which created the Insurance and Social Welfare Supervisory Authority (ACAPS). It manages complementary pension schemes in accordance with its statutes and general pension regulations.

The CIMR offers various complementary pension products based on a point-based distribution system. Membership in CIMR can take place under the following categories :