Viability and sustainability of moroccan pension schemes
A comparative dashboard and a composite sustainability index
DOI:
https://doi.org/10.23882/emss26406Keywords:
pensions, sustainability, actuarial indicators, composite index, MoroccoAbstract
Morocco’s four main pension schemes publish heterogeneous indicators whose definitions differ across official sources. This paper builds a common dashboard from official sources, then a composite sustainability index based on five demographic, financial and actuarial indicators. The robustness of the ranking is tested with 10,000 random weightings, an alternative normalisation and the successive removal of each indicator. The results confirm a polarised system. CIMR, a well-provisioned points scheme, ranks first under 92% of weightings. CMR ranks last in 63% of cases, with less than two years of benefits in reserve and depletion expected around 2031. RCAR illustrates a scheme that is viable but not sustainable: contributions cover only 45% of benefits, yet reserves amount to 14 years of benefits. The paper recommends a harmonised set of indicators published annually.
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