In his first media appearance since taking office as Minister of Economy, Finance and Public Sector Performance, Fouzi Lekjaa addressed the politically sensitive issue of pensions on 2M’s Saât Assaraha program on Wednesday evening, as Parliament began examining the 2027 draft Finance Bill.
Lekjaa said the government’s plan to gradually raise the minimum monthly pension to MAD 3,000 by 2031 would benefit around 500,000 people, at an estimated annual cost of MAD 3 billion.
“This cost will not be borne by the pension funds. It is a social policy choice,” Lekjaa said. The government will instead finance the increase directly from the state budget, shielding the pension schemes from an additional financial burden.
The increase will be phased in over several years. The 2027 draft Finance Bill provides for an initial rise in the minimum monthly pension to MAD 1,700 from January 2027, with the aim of reaching MAD 3,000 by 2031.
The challenge is to improve the lowest pensions without adding to the financial pressures facing retirement schemes. By covering the cost through the state budget, the government is seeking to keep this social measure separate from the broader question of pension fund solvency.
“We are moving to decisions”
Beyond the minimum pension increase, Lekjaa addressed the comprehensive reform of Morocco’s pension system, which has been pending for several years. Asked whether the technical committee overseeing the process would continue its meetings, he indicated that the time for discussions was giving way to decisions.
“We will present the reform as quickly as possible,” he said, adding, “We are moving to decisions.”
The overhaul will need to address structural imbalances across the various pension schemes and secure their long-term financial sustainability. On that point, Lekjaa sought to reassure contributors: “Members’ accrued rights will be protected.”
The position of retirees receiving pensions above the proposed MAD 3,000 minimum is also under review. Lekjaa said the government would assess the financial room available to identify possible solutions for the pension system.
