Abstract:

The public service pension system in Morocco is in a difficult financial situation. His diagnosis showed the necessity and urgency of a real upgrade. Also, its financial deficit situation is likely to worsen with the increase in the number of retirees, the deterioration of the demographic ratio, the increase in life expectancy and the generosity of its parameters. The actuarial study of this public plan, prior to 2016, showed that its financial situation is difficult and its reserves will be fully exhausted in 2023.In September 2016, the Moroccan Government adopted a parametric reform of this regime in order to balance its financial situation, at least until the adoption of a comprehensive reform of the Moroccan retirement system. In this article, there is an assessment of the impact of this new reform on the long-term sustainability of the Civil Pension Scheme. To do so, this paper presents, on the one hand, a retrospective analysis of the main CPP indicators and, on the other hand, a 50-year prospective study based on demographic and financial projections of the CPP working and retired population. Then there is a brief analysis of the actuarial balance sheets in an open-ended group showing the advantages and limitations of this new reform.