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Abstract
In 2016, the government of Morocco adopted a parametric reform
intended to deal with the critical financial situation of the CMR civilian
pension regime. We examine the robustness of this reform using the
Cohort-Component population projection model to the fund's
population during the period 2014-2064. Then we lead a projection of
the scheme financial situation. Moreover, we project the status quo
situation and an alternative scenario where we propose to increase the
retirement age solely, and then compare the results with those of the
2016 parametric reform. Findings/Originality: For the three
scenarios, a parametric reform will have a limited effect on the financial
situation, in both the long and the short-term. In long run, it is not
sufficient to solve the problem of massive increase of pension scheme
deficits while in short run it is not sufficient to eliminate the existing
structural problems neither to avoid the future financial deficit.
Furthermore, our alternative scenario seems to have some more
advantages, comparing with the other scenarios.
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Economic Journal of Emerging Markets by Center for Economic Studies, Universitas Islam Indonesia is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.