A startling 36% of Moroccans have no retirement plan, according to a new survey by Sunergia, a market research firm.
The survey identified informal sector workers as the most vulnerable group, with 86% lacking any retirement coverage at all. Meanwhile, 59% of respondents said they benefit from employer-sponsored plans, while 5% rely on individual coverage.
Even among those workers who have retirement coverage, few have savings. The survey revealed that 85% of those with a primary retirement plan lack a savings strategy to supplement their retirement income.
For the minority who have such plans, companies contributed about 10% of their savings, while only 4% funded their own savings. A mere 1% saved money independently through banks or salary deductions.