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Weekly highlights

Pension Reform: The time bomb soon to be defused?

T HE first meeting of the social Scenario proposed by the study on pensions
partners on a strategic dos-
sier which fascinates has ta-
ken place. The pension reform was Optional supplementary funded schemes
the subject of a meeting, on Wednes-
day, October 5, chaired by Nadia Independent Small and Large Mandatory supplementary SMIG x 10
Fettah Alaoui, Minister of Finance. workers and medium-sized companies schemes with defined 28.300 MAD
Time has come to put in place an non-employees enterprises (CIMR) contribution (points)
approach and a work methodology, from 1 MAD
which should begin with a “global Mandatory supplementary schemes
and unified diagnosis”. A necessary Optional with defined contribution (points)
step before moving on to the pos- supplementary from 1 MAD
sible reform scenario, which should schemes
lead to the establishment of two
clusters, one public and one private. Basic defined benefit or SMIG x 2
In any case, the Ministry of Finance Basic defined benefit or defined contribution plan defined contribution plan 5.700 MAD
wants weekly meetings to be held
and measures to be taken by May Non-employees Employees Public sector
2023, all within the framework of Source: Ministry of Finance
the National Commission on Pen- Private sector
sion Reforms, which will oversee case remains very technical, and have a choice. The issue is linked Today, the system in place is cha-
two commissions, one dedicated secondly because this reform does to the viability of the various funds, racterized by its low coverage: more
to the private sector and the other not only bind current assets but also and unpopular measures are neces- than 54% of the active population
to the public sector. In view of the future generations. Politically, the sary to generate changes concerning does not have protection against the
inventory drawn up by the Ministry subject is very sensitive, especially the minimum retirement pension, risks associated to old age.
of Finance, this dossier promises to in this difficult economic situation, the retirement age, as well as the The average pensions granted dif-
be difficult, first of all because the but the Government does not really generosity of the pension schemes. fer from one fund to another: 2,022

Payment deadlines: The last chance reform?

T HE deadlines for payment of ral Secretariat of the Government
(SGG) in order to allow interested
arrears are a real headache
persons to make their comments,
for companies and for the
Government. Attempts to treat this some of which have been taken into
issue were carried out but in vain. consideration, it is said in the note.
This time, by adopting, during the In addition, the bill aims to impose
Council of Government last Thur- unified practices relating to the
sday, September 29, the draft law conditions of sale, through provi-
which reforms the Commercial sions concerning payment terms. It
Code on issues relating to payment is for this reason that the Head of
terms, will it be the right one? We Government submitted this draft
will have to wait for its approval law by postal mail sent to the Com-
by the Parliament and the start of petition Council for an opinion last
its implementation to decide. In the December. Three months later, the
meantime, it must be recognized Council submitted its recommen-
that the royal speech relating to dations. The Head of Government
payment terms could not have been has retained some of them to intro-
clearer. “Public administrations and duce them into the draft legislation.
local authorities in particular must The issue of late payments is an essential component of the economic stimulus plan and Other recommendations, howe-
pay their due to companies, because an important lever in improving the business climate, according to the presentation note ver, were rejected. In any case, the
any delay in payment can lead to that accompanies the draft law implementation of the bill will be
cases of bankruptcy and, correlati- current system relating to payment out the operating methods and the applied gradually between January
vely, to many job losses”, the Sove- terms are limited. What is at stake is composition of the Observatory, in 1, 2023 and January 1, 2025, de-
reign had declared insistently. The overcoming the insufficiencies and addition to the representatives of pending on the annual sales volume
problem of late payments is an es- obstacles which hinder the respect the administration, of the employers achieved by the persons concerned.
sential component of the economic of deadlines. It is in this spirit that (CGEM), of the group of Moroc- Similarly, the draft text provides for
stimulus package and an important the bill, piloted by the Ministry of can banks (GPBM), of the Federa- tougher penalties with fines ranging
lever in improving the business cli- Trade and Industry, was drawn up tion of Chambers of Trade and In- from 5,000 to 250,000 Dirhams
mate, according to the presentation as part of a participatory approach dustry, and the central bank (Bank (500 to 25,000 USD), depending on
note that accompanies the bill, es- and in the light of the recommen- Al-Maghrib). As a reminder, this the case.o
pecially since the results achieved dations of the Observatory of pay- draft legislation has been published Mohamed CHAOUI
following the entry into force of the ment terms, and this by pointing on the electronic site of the Gene-
Friday 7 October 2022