Risk management is the process of identifying, analysing, accepting, mitigating or transferring uncertainty in investment decisions. Fund managers apply risk management by analysing and attempting to quantify the potential loss of an investment and then acting accordingly.

Institutions are being transformed thanks to the integration of new technologies. This vision represents a corporate change with a social impact, reducing costs, simplifying processes and procedures, and raising awareness of the importance and benefits of this transformation.

The idea of setting up self-service areas in Pension Fund of Morocco (Caisse marocaine des retraites – CMR) receptions stems from a desire to offer users open access to the CMR’s digital services, while ensuring reception and orientation staff are on hand to provide support and guidance in their use.

This type of space offers a range of digital services, enabling users, for example, to access their data, monitor the status of their files, and editing or uploading requested documents.

Open Lab is an innovation space created by the Pension Fund of Morocco (Caisse marocaine des retraites – CMR), based on an ecosystem-oriented business model. It relies on the collective intelligence of participants (collaborators, users, partners and other stakeholders) to design and test innovative solutions to the “pain points” encountered by users and/or to develop new services or products, improve internal processes and implement new methodology.

Article 12 of Law No. 5508 on the Promotion, Protection of Maternity and Support for Breastfeeding establishes that maternity allowance should be paid to employed women by the social security scheme of Paraguay’s Social Insurance Institute (Instituto de Previsión Social – IPS). This amount is equivalent to 100 per cent of her salary at the time of delivery, and is paid for the prescribed months of rest. This used to be given to women in a single payment.

In 2022, Morocco’s CDG Prévoyance signed an agreement with the State to manage the Tayssir Programme, one of the country’s most important welfare programmes, dedicated to reducing the rate of school drop-outs among the most vulnerable segments of the population.

The issue of population growth and social security planning is one of the biggest challenges facing governments today, and is a key part of a good social security system that instils confidence in its members.

The Retirement and Pension Fund for Employees of Banks and Related Institutions (Caja de Jubilaciones y Pensiones de Empleados de Bancos y Afines) (Bank Fund, hereinafter) is in constant communication with its members. It therefore continuously updates its databases, in order to have a better understanding of members’ current realities, experiences and needs.

With a view to strengthening its communication with beneficiaries, and as a straightforward way of making them aware of their rights and responsibilities, the Pension Fund of Morocco (Caisse marocaine des retraites – CMR) has produced a series of animated clips entitled “أجي نفهموا التقاعد” in Moroccan Arabic, or “Let’s understand retirement” in English.

Digital transformation is happening in institutions through the integration of new technologies. This vision represents an institutional and social change, optimizing available resources, reducing costs, shortening processes and procedures, and raising awareness of the importance and benefits of this transformation.

The royal project to expand social security coverage in Morocco was launched in accordance with Framework Law No. 09-21 on social protection. The implementation of the royal project to expand social security coverage has been entrusted to the National Social Security Fund (Caisse nationale de sécurité sociale – CNSS), a major player in social protection in Morocco and will take place in line with a staggered implementation schedule.

For the population groups:

Morocco’s Supervisory Authority of Insurance and Social Welfare (Autorité de contrôle des assurances et de la prévoyance sociale – ACAPS) has developed a simulation software package specifically for basic medical coverage in order to strengthen its supervisory mission, to support bodies charged with managing basic compulsory health insurance (CHI) schemes, and to respond to requests for technical advice from other institutions.

Good practice in health – service quality.

As health-care systems have evolved to become more complex and due to the resultant increase in patients coming to harm in health care settings, patient safety has emerged as a health-care discipline.

The Actuarial Advisory Office (Asesoría Actuarial) of the Social Insurance Institute (Instituto de Previsión Social – IPS) carried out an actuarial valuation of the Common Retirement and Pension Fund (Fondo Común de Jubilaciones y Pensiones). The valuation looks to comply with international best practices and observe the guidelines and standards of the International Standards of Actuarial Practice 2 (ISAP 2), and the ISSA-ILO Guidelines on Actuarial Work for Social Security, with technical support from the International Labour Organization (ILO).

The National Pension Service (NPS) of the Republic of Korea developed a credit rating model that reflects national pension payment information to support the economic activities of the financially marginalized who lack financial transaction experience such as the young generation, providing financial benefits such as lowered interest rates on loans to honest national pension payers.

The Republic of Korea’s workers’ compensation supports the return to work of injured workers, as a social safety net protecting national human resources. The Korea Workers’ Compensation and Welfare Service (COMWEL) is an organization operating “Customized Integrated Services (CIS)” that establishes a rehabilitation plan for injured workers since 2011, while implementing systematic rehabilitation services according to the established plan, helping the successful rehabilitation of workers.

Like most of the world’s countries, Paraguay has adopted lockdown measures to prevent the spread of COVID-19. These steps taken by the government have impacted the productive sector, leading to mass suspensions of employment contracts for persons insured with the Social Insurance Institute (Instituto de Previsión Social – IPS) of Paraguay.

“Untact” (meaning “contactless”) is one of the high-trending new terms in Korea’s post-COVID-19 era. The global pandemic in the wake of the COVID-19 outbreak created new standards that have come to be known as the “new normal”.

As part of the measures adopted to help limit the spread of the COVID-19 pandemic and in order to avoid any risk of resource disruption for beneficiaries, Morocco’s CDG Prévoyance, which is responsible for managing the National Pension and Insurance Fund (Caisse nationale de retraites et d’assurances – CNRA) and the Collective Pension Scheme (Régime collectif d’allocation de retraite – RCAR), set up a new system to simplify entitlement checks through the exchange of data with institutional partners and on digital platforms.

The National Health Insurance Service (NHIS) is the single insurer in the Republic of Korea that manages health insurance and long-term care insurance under the Ministry of Health and Welfare (MOHW). In the wake of the national crisis due to COVID-19, all employees carried out all efforts for social responsibilities as a public institution and actively responded to overcome the crisis.

By linking and connecting family relations registration data and account information that are essential in claiming national pension payments, we provide a contactless, paperless, and wait-less, or the so-called “3-less” service in pension payments, thereby removing the inconvenience of having to visit the National Pension Service (NPS) of the Republic of Korea or relevant organizations and reducing the risk of contact in the era of COVID-19.

COVID-19 caused a crisis with economic and employment shocks, which led to increased unemployment and the self-employed shutting down businesses. With prolonged COVID-19 pandemic, there was an increase in the number of citizens (subscribers), who struggled to make payments on national pension premiums.

The National Pension Service (NPS) of the Republic of Korea made efforts to overcome the COVID-19 crisis by alleviating financial burden by temporarily waiving premium payments and payments of arrears.

Paraguay’s Social Insurance Institute (Instituto de Previsión de Social – IPS) used to make sick leave payments at its administrative offices, which had associated administrative costs and meant beneficiaries had to visit the IPS service counter in person.

Morocco’s CDG Prévoyance ensures the technical and financial management of more than 25 pension schemes and solidarity funds that are extremely diverse in terms of groups covered, size and technical make-up.

This diversity makes the effective management of data a prerequisite in the financial management of these schemes and funds, which involves a wide range of information emanating from a variety of sources.

The National Health Insurance Service (NHIS) of the Republic of Korea has created a smart environment in which visiting a branch office in person for civil services is no longer necessary. By integrating 17 homepages operated by different projects and three mobile apps into a single channel (internet, mobile), citizens no longer need to visit a branch office to access the main NHIS services from November 2020.

In order to effectively unify and manage 11 communication channels, the National Health Insurance Service (NHIS) of the Republic of Korea has developed a “Unified Suggestion/Communication Management System” by listening to the needs and opinions of the public and employees about health insurance and long-term care insurance. NHIS is the first public agency in the nation to implement this system.

Morocco’s Interprofessional Retirement Fund (Caisse interprofessionnelle marocaine de retraites – CIMR) has developed a new, cutting-edge technology to offer its pensioners enhanced security and comfort. Pensioners affiliated to the CIMR can now provide proof of life at a distance, from the comfort of their own homes. They need simply make use of the CIMR DIALCOM mobile application, complete with dynamic-selfie facial recognition software.

The mission of Morocco’s CDG Prévoyance is to honour, as effectively as possible, the financial commitments of the schemes it manages. This necessarily involves the definition of an investment strategy capable of achieving the return and risk objectives that have been set. Roll-out of the strategy requires benchmarks to be established and shared with the external managers who have been charged with its implementation.

The National Pension Service (NPS) of the Republic of Korea developed a digital consultation channel, converting various reports and forms that were previously filled out by hand by customers visiting branches into digital electronic forms. This reduces costs related to creating and processing paper documents, while customers can complete filling out forms using electronic signature on a touch screen. The NPS creates a paperless office environment, while providing digital administration service to customers that minimizes contact time between employees and customers.

As part of its digitization strategy, the Pension Fund of Morocco (Caisse marocaine des retraites – CMR) has developed an IT platform called “e-retraite CMR” for the paperless management of pension files. This platform serves as a data exchange interface between the CMR and employers, enabling the latter to scan pension records and transfer them to the CMR as well as monitor, in real time, the status of these files. It also keeps stakeholders and clients abreast of developments in their files.

Forum theatre is a form of theatre created in the 1960s by a Brazilian playwright and director to help fight all kinds of oppression existing in human societies. The Pension Fund of Morocco (Caisse marocaine des retraites –  CMR) drew inspiration from this type of theatre to develop a communication channel in order to change public perceptions with regard to:

A particular feature of Morocco’s Deposit and Management Fund (Caisse de Dépôts et de Gestion – CDG) is that it performs financial management activities both on its own account and on behalf of the provident funds and schemes that it manages through its provident fund, CDG Insurance (CDG Prévoyance), which directly manages social security funds for the CDG group.

Following the social trend of greater use of smart phones than personal computers (PCs), the National Pension Service (NPS) aims to make processes more efficient and innovate on services through various means in order to effectively introduce and promote the national pension scheme:

The remit of Morocco’s Deposit and Management Fund Insurance branch (Caisse de Dépôt et de Gestion Prévoyance – CDG Prévoyance), hereafter referred to as CDG Insurance, is to consolidate operational capacities in the field of provident funds so as to support the State in managing the pension schemes and solidarity funds that fall under its mandate.

The remit of Morocco’s Deposit and Management Fund Insurance (Caisse de Dépôt et de Gestion Prévoyance – CDG Prévoyance), thereafter referred to as CDG Insurance is to consolidate operational capacities in the field of provident funds so as to support the State in managing the pension schemes and solidarity funds that fall under its mandate. CDG Insurance serves around a million clients (affiliates, beneficiaries and members) with whom it is in constant contact.

Morocco’s Deposit and Management Fund Insurance (Caisse de Dépôt et de Gestion Prévoyance – CDG Prévoyance), hereafter referred to as CDG Insurance, manages a diverse range of provident fund products. It must respond, within a reasonable timeframe, to public authority requests regarding the management of new funds and products. It is in this context that it launched, in 2017, an ambitious project to develop a business model to standardize how provident fund objects are defined and the relationships between them, regardless of the product in question.

Occupational trauma can affect a wide range of individuals exposed, including not only the people who experienced the traumatic event first-hand, but also those who witnessed the event, the primary victim’s family and friends, bereaved family members and those who feel responsible for the event, police, firefighters, and people engaged in an emergency service.

Among the Organisation for Economic Co-operation and Development (OECD) countries, the Republic of Korea is the fastest ageing country, making preparing for retirement a serious social issue. The government has named baby boomers, which account for 14.6 per cent of the total population, “the new middle-aged” and is providing and implementing social measures for them.

Among its peers, the Pension Fund of Morocco (Caisse marocaine des retraites – CMR) is innovating with the implementation of this good practice. In this respect, it is the only social security institution amongst the Moroccan Pension Funds and Insurance Companies to undergo certification, for the long term, of its internal process for social security fund investment to ensure maximum transparency and commitment in the exercise of this activity, with the aim of obtaining a label of excellence accredited by independent certifying offices.

The National Pension Service (NPS) of the Republic of Korea has recently introduced a number of initiatives to support members who are about to retire. These efforts include:

In accordance with good practices concerning the governance and investment of social security funds, Morocco’s Deposit and Management Fund Insurance (Caisse de Dépôt et de Gestion Prévoyance – CDG Prévoyance), hereafter referred to as CDG Insurance, tasked with managing social security funds, makes systematic use of an annual external audit of its financial management conducted by a specialized external audit firm.

The National Health Alarm Services (NHAS) of Korea offers various health alarms to the public before the epidemic spreads out rapidly. They combine different data from diverse sources such as national health information from the National Health Insurance Service (NHIS), social networking sites (SNS) such as twitter, blogs, etc., data from Daumsoft Corporation, climate information from the Korea Meteorological Administration (KMA), air pollution information from the Ministry of Environment (MOE), and food poisoning information from the Ministry of Food and Drug Safety (MFDS).

Since the reorganization of the Pension Fund of Morocco (Caisse marocaine des retraites – CMR) in 2011, which placed the client at the forefront of its concerns, the Fund’s “client relationship” has changed considerably, in particular owing to the introduction and use of a marketing and multichannel approach.

In 2016, the CMR witnessed:

In 2012, discussions on introducing a basic pension system began in earnest and in September 2013, the Republic of Korea government announced a basic pension system plan.

The General Mutual Fund for Civil Service Employees (Mutuelle générale du personnel des administrations publiques – MGPAP) is keen to secure the sustainability of the financial system and to ensure that it is managed in a modern and efficient way, and has therefore embarked on an ambitious project to reform the expenditure process with the aim of guaranteeing maximum transparency, rationality and good governance.

While the national pension enrolment rate for regular workers in Korea was 82 per cent in 2015, the rate for non-regular workers was a mere 38 per cent, showing weak retirement planning. There was a call to strengthen the social safety net and to realize “pension per person” by reducing the risk of non-regular workers falling through the cracks of the social insurance system amid a gradual rise in the number of non-regular workers such as daily and part-time workers due to labor market flexibility.

Prior to the introduction of the Collective Scheme for Retirement Allowances (Régime collectif d’allocation de retraite – RCAR) in 1978 and in the absence of a statutory retirement scheme to cover them, several public establishments in Morocco managed their own retirement funds (special schemes, railway workers, mining personnel, water and electricity managers). This however suffered from the following limitations and drawbacks:

Faced with the disparity and geographical decentralization of its members and poor medical coverage, the General Mutual Fund for Civil Service Employees (Mutuelle générale du personnel des administrations publiques – MGPAP) has developed its local activities through two projects:

1. Local medical programmes.
2. Expansion of geographical presence through partnerships with the local authorities and government.
    

The National Health Insurance Service (NHIS) of the Republic of Korea has developed the National Family Caregiver Support Programme (NFCSP) to ease the burden of family caregivers of long-term care (LTC) recipients. In this programme, specialized NHIS counsellors screen family caregivers experiencing heavy burdens, evaluate their unique circumstances, and then offer a variety of services tailored to their needs.

In 2012, as part of its paperless strategy, Morocco’s Interprofessional Retirement Fund (Caisse interprofessionnelle marocaine de retraite – CIMR) launched an e-signature application entitled “E-parapheur”. This electronic signature system was established with a view to securing the payment process through the creation of a paperless workflow for signing bank transfer orders for the payment of retirement benefits and purchases.

The Collective Scheme for Retirement Allowances (Régime collectif d’allocation de retraite – RCAR) has introduced a fully computerized and versatile multi-scheme, multiproduct organizational and technological management platform, consisting of a multi-channel Customer Relations Centre (agencies, a call centre, web/mobile, social networks), a multiproduct Payment Centre, and a computerized Back Office that is integrated with RCAR’s partners.

Good governance on Fund financing requires a set of regular checks including proof of life.

In this context and in anticipation of a national and computerized civil register allowing death investigations, the Pension Fund of Morocco (Caisse marocaine des retraites (CMR)) has adopted an innovative practice based on pension provision control in the beneficiary's bank branch. Thus, targeted pensioners simply go to their usual bank branch to get their pensions by e-mandate. This release is therefore treated as a proof of life.

The Pension Fund of Morocco (Caisse marocaine des retraites (CMR)) ensures the financial equilibrium of the pension schemes it manages by preparing actuarial balance sheets that are presented annually to its Board of Directors. The balance sheet results help decision-makers assess the scheme's financial sustainability and take decisions on steering the system or adjusting the parameters.

The consolidated collection system for five major insurances was implemented in January 2011 by the National Health Insurance Service (NHIS) in the Republic of Korea. To complete the task, six legal amendments were made, which involved two ministries, two standing committees of the National Assembly, and three organizations. With the consolidated collection system, methods of collection (notification → collection → compliance) that used to be different for each organization were redesigned in terms of procedures, standards and forms.

To solve this problem, the NPS has concluded a memorandum of understanding (MOU) with the social security institutions (SSI) of seven countries which enables us to exchange data on beneficiaries residing in partner countries. As a result of the data exchange - using a method which emphasizes confidentiality as a top priority - NPS has confirmed the death of 13 of its beneficiaries and partner institutions confirmed nine of theirs.

Practical actions included the integrated reform of the existing counselling systems, the identification of priority customers using reasonable standards, and the case management of identified priority customers.

In terms of outcomes for one year, since its introduction, the number of personnel in charge of various return-to-work programmes increased to 3,285 in 2011, 297 per cent up against 828 in 2010, and the return-to-work rate of disabled workers increased to 70.4 per cent in 2011, 6.3 percentage points up against 64.1 per cent in 2010.

The Korea Occupational Safety and Health Agency (KOSHA) has established 42 workers’ health centers nationwide to provide complimentary health services to workers in workplaces with less than 50 employees, who show higher prevalence of diseases based on health examinations and who work under poorer environments that are prone to exposure to more harmful factors.

The Pension Fund of Morocco (Caisse marocaine des retraites – CMR) is managed by a tripartite Board of Directors. In 2001, a Permanent Committee was put in place to prepare Board sessions and monitor the implementation of decisions and resolutions of the Board. In addition, the Board created two support committees in 2011 to strengthen the governance of the Fund: the Asset Allocation Committee and the Audit Committee.

Therefore, the Korea Worker's Compensation and Welfare Service (COMWEL), a public institution, decided to create the "Public Retirement Pension Service" to close the gap in the autonomous market economy and reduce the social cost caused by income poverty in retirement. We constructed a customized overall process for small companies: simplicity of introduction and management, a wide scope of retirement pension education and public relations, and low charges.

The National Pension Service (NPS) of the Republic of Korea became the first in the world to adopt an airport payment service of lump-sum refunds when it started paying lump-sum refunds to foreigners returning home at Incheon International Airport since July 2010. NPS has made a total of 300 billion Korean won (KRW) of lump-sum refund payments to 50,000 recipients to date via the airport payment service offered by its Incheon Airport Service Centre.

Financial performance certification is a commitment by the Pension Fund of Morocco (Caisse marocaine des retraites (CMR)) since 2009 concerning its governing bodies. This practice is part of the management reserve fund's modernization (FDR: fonds de réserve) scheme.

In fact, the CMR opted, without regulatory constraint, for the performance certification of the various pension plan portfolios it manages. It is an annual total portfolio and asset class financial performance audit by an independent expert.

The NPS has a policy of equal treatment for nationals and foreigners and strives to provide foreigners with a range of services comparable to those provided to Korean nationals. These include phone consultations, online questions and answers (Q&A), home visits, and payment of the lump-sum refund of contributions at the airport, among others. Going forward, the NPS will continue to actively develop and promote these and other services for foreigners.

The process-based knowledge management system enables working-level staff to improve the efficiency of their individual work through automatic notifications, automated storage and a highly-refined search capability which allows information to be retrieved that is most relevant to data entered by users and the work in progress.

The process optimization technique enabled the timely identification and resolution of possible problems by managing the work in progress on a real-time basis, quantitative analysis of results, and the innovation of relevant processes.

The Collective Scheme for Retirement Allowances of Morocco (Régime collectif d'allocation de retraite (RCAR)) launched a vast modernization undertaking in 2004 named the "Excellence Programme". The corruption prevention device was one of the bases for this endeavor. Since then, the RCAR has made considerable efforts to establish transparency and to develop services with high added value.

This project has extended the rehabilitation services offered by the Korea Workers’ Compensation & Welfare Service (COMWEL), namely, medical, social and work rehabilitation. A service delivery system has also been developed to help industrially injured workers (IIW) return to work and ultimately improve the quality of life.

The Directorate of Workers 19 Social Protection (Direction de la Protection Sociale des Travailleurs (DAPS)) developed the ATLAS software as part of the reflection on and reform of pension schemes in Morocco. It is designed to respond to the specificities of Moroccan pension schemes. It can be used to develop projections that will assist in piloting these schemes by producing:

It opted for total quality management. The American BALDRIGE system, ISO 9001 and FDX 50-176 were chosen as reference models, together with COBIT, ITIL, CMMI and PMBOK.

In an effort to protect these workers' benefit eligibility, and to improve the application procedure, the NPS has concluded Memorandums of Understanding (MOU) with the social security institutes (SSI) of countries where substantial numbers of such immigrant workers reside.

Working with identification information provided by NPS, partner SSIs assist immigrant workers (many of whom have not yet applied for NPS benefits) in applying for NPS benefits so that these workers can obtain NPS benefits in their home countries without the need for notarization or attestation.

The scoreboard is a management tool designed to assist decision-making. It groups performance indicators concerning the financial and demographic status of a pension scheme as well as equity and intra- and inter-generational solidarity, in the form of a structured and synthetic report. It enables decision-makers to keep track of the evolution of the system they are managing, to detect possible threats and take the necessary decisions at the appropriate time.

Thanks to its ambitious strategic plan and its Excellence Programme, the Collective Scheme for Retirement Allowances of Morocco (Régime collectif d'allocation de retraite (RCAR)) implemented a fully flexible multichannel customer relationship system, to anticipate and meet the expectations of the government, its customers and its partners.

Since its reorganisation in 1996, the Pension Fund of Morocco (Caisse marocaine des retraites (CMR)) has managed civil service pension schemes and services on behalf of third parties. The CMR follows a multi-annual strategic planning process, characterized by a multidimensional, balanced distribution of its objectives into five areas of focus: governance, finance, process, resources and clients.

Within this framework, the Collective Scheme for Retirement Allowances (Régime collectif d'allocation de retraite (RCAR)) has clarified its mission and defined its vision in order to play a major role in the nationwide project to modernize the national economy and to participate actively in the modernization of the pension sector in particular.

The RCAR set up a link between its IT corporate system and its institutional site in 2003. This enabled its employer clientele to consult their financial records, its members to visualise their status and its pensioners to find out their payment status. Today, the RCAR sees the WEB as a particularly effective channel for communication and distribution. The RCAR has recently restructured its site completely, changing the graphics and functions in order to make it more user-friendly, richer and more robust.

The conditions under which pensioners collected their pensions in Moroccan post offices and over the counter of the Royal Moroccan Treasury offices were felt to be very difficult, so the CMR launched a programme to dematerialise payment operations through the introduction of protocols governing the use of EDI platforms in banks, the Moroccan Post Office and the Treasury.

The increase in the number of transactions carried out via the Fund's web site is proof of the demand for these services. It rose from 310 in 2003 and 878 in 2004 to 60,220 in 2005 and 227,495 in 2006. In 2007 and the 1st semester of 2008 it rose to 92,980 and 63,564, respectively.

Our aim was to stimulate and enhance the value of the capital of knowledge and skills within the organization, not just sharing information but also ensuring that the right information was in the right hands at the right moment for more effective decision-making. This type of knowledge management was greatly facilitated by Net-based progress in terms of the collective management of documents and team working.

The main objective is to align its plans of action and projects with its profession based strategy in order to create added value for actors involved in the scheme. Two main levers have been chosen in order to achieve this, organisational quality and control of administrative costs.

These levers have been introduced within the framework of a total quality management (TQM) system.

This portal, which has been in service since 2003, enables enterprises which are members of the CNSS to submit their salary declarations and pay their social contributions online under well established secure conditions.

The new service offers the following advantages: transparent and reliable data, protection of salaried workers' rights, and fewer complaints and disputes.

Since reforms of its scheme were implemented in 2003, the Interprofessional Retirement Fund (Caisse interprofessionnelle marocaine de retraite – CIMR) of Morocco has created its steering committee, composed of managers and senior members of the institution, which is aimed mainly at proposing to the Administrative Council all necessary measures to maintain the sustainability of the Fund over the long term, on the basis of updated financial and actuarial projections.

The National Pension Service (NPS) developed a social insurance computer network that connects the databases of the four national social insurance programmes on pensions, health, employment and workers’ compensation. In February 2003, the NPS established the Social Insurance Information Center (the Center) that allows citizens to access all four social security schemes by visiting (or via online) any one office of the three administering organizations.

CDG Prévoyance, a branch of Morocco’s Deposit and Management Fund (Caisse de dépôt et de gestion – CDG), is responsible for managing two institutions: the National Pension and Insurance Fund (Caisse nationale de retraites et d’assurances – CNRA) and the Collective Pension Scheme (Régime collectif d’allocation de retraite – RCAR). Its primary mission is to ensure the management of pension schemes and solidarity funds, while contributing to the country’s economic, social and human development.

As part of its social mission, Morocco’s CDG Prévoyance manages, by way of the National Pension and Insurance Fund (Caisse nationale de retraite et d’assurances – CNRA), a public institution guaranteed by the State, a multitude of schemes and solidarity funds covering various categories of beneficiary. As such, the CNRA is responsible for collecting the constituent capital, which is calculated according to rates imposed by legislation.

The Korea Workers’ Compensation & Welfare Service (COMWEL) administers the following system as a strong shield for the protection of claims for wages of workers: