Thousands rally against Morocco pensions reform

Thousands of Moroccans have demonstrated in the capital Rabat to protest against a new law raising the retirement age from 60 to 63 for public sector employees. 

The law to reform state pensions, passed by a majority vote of 70 to 35 last Wednesday, stipulates that the change will be introduced gradually from next year. 

Trade unions had mobilised since January in an attempt to counter pension reform, arguing that salaries would fall sharply by 20-40 percent when the new retirement age comes into effect. 

But the government has pressed ahead with the plan amid reports that the state pension fund is on the brink of collapse with debts of more than 56 billion dollars. 

The demonstrators called on the authorities to revoke the law which they said would undermine state pension funds.


SOURCE: NEWS24