CIMR

What CIMR does

CIMR (Caisse Interprofessionnelle Marocaine de Retraite) is a Moroccan mutual retirement fund (Société Mutuelle de Retraite) founded in 1949 and regulated under Title II of Law 64-12 by ACAPS. It manages a points-based complementary pension regime for employees of private-sector enterprises, offering 14 modular contribution rate tiers (3.75% to 6%+) that determine annual point accrual, with options for early retirement (Moubakkir at 50, Mousabbak at 55), point purchases, survivor pensions, and death capital benefits. As of end-2018, CIMR served 667,794 affiliates (360,069 active contributors plus 307,725 beneficiaries) and 174,566 pensioners, and held an investment portfolio of approximately 63.22 billion MAD with a Réserve de prévoyance of 56 billion MAD.

CIMR operates a multi-channel service infrastructure combining a 10-agency regional network across Morocco (Casablanca, Rabat, Marrakech, Fès, Tanger, Oujda, Agadir, Meknès, Tétouan, plus a second Casablanca location) with a suite of digital platforms: the Al Moustakbal Individuel self-service portal for individuals, the CIMR Dialcom web portal and mobile app (Android/iOS) for retirees, E-Liquidation@ and Télédéclaration for enterprises, and the Ariane chatbot on Messenger. Security and process quality are formalized through ISO 27001 (renewed 2025), ISO 9001 (since 2009, covering Prestations and Production processes), IFACI internal audit certification (2024), and CGEM RSE Label (2024).

Revenue is generated from two streams: recurring pension contributions from affiliated enterprises and individual members, and investment income on reserves managed under strategic and tactical asset allocation with delegated and direct management. The operating model uses a provisioned distribution technique (répartition provisionnée) combining current contributions with accumulated reserves. CIMR serves three customer universes — enterprises (affiliated and non-affiliated), affiliated employees and self-employed individuals, and retirees (allocataires) — with differentiated GTM motions combining B2B commercial outreach and D2C digital self-service, supported by a mutual governance structure with a board elected by member enterprises.

Name

CIMR

Legal name

Caisse Interprofessionnelle Marocaine de Retraite

Website

https://cimr.ma

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

101–250 employees

Short description

CIMR is Morocco's leading complementary pension mutual, managing a points-based supplementary retirement regime for private-sector employees and serving over 667,000 affiliates and 174,000 retirees through a 14-tier modular contribution model and a 63+ billion MAD investment portfolio.

Ownership category

akta.pro rank

Product category

Complementary Pension and Retirement Fund Management

NAICS

Pension Funds (525110)

SIC

Insurance Carriers, Nec (6399)

akta.pro primary industry

Retirement Income Planning & Decumulation Advisory (FSAEABAD)

Keywords

• Complementary pension services
• Retirement savings plans
• Mutual pension fund
• Private sector pensions
• Employee retirement benefits

Headquarters

HQ city

Casablanca

HQ country

Morocco

HQ region

Africa

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Complementary Pension Contributions: CIMR generates revenue through mandatory and voluntary contributions from affiliated enterprises and individual members. Employers and employees contribute at chosen rates (from 3.75% up to 6% or higher), which are converted into pension points. The regime uses a provisioned distribution technique (répartition provisionnée) combining current contributions with accumulated reserves to fund pension obligations. Revenue grows as the affiliated member base expands and as contribution rates increase.
2. Investment Income on Reserves: CIMR invests its accumulated reserves (Réserve de Prévoyance) across financial assets to generate investment income, which contributes significantly to regime financing. The financial portfolio is managed under a structured governance framework with strategic and tactical asset allocation, delegated management, and direct management across asset classes. This income stream buffers contribution requirements and supports long-term actuarial balance.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

CIMR operates a complementary (supplementary) pension fund for private-sector enterprises and their employees in Morocco, structured as a points-based defined-contribution scheme under a provisioned distribution technique. It sells modular pension products (Al Kamil, Al Mounassib) to affiliated enterprises, individual voluntary plans (Al Moustakbal Individuel), group voluntary plans for non-affiliated companies (Al Moustakbal Groupe), and pays retirement, survivor, and orphan pensions to retirees, with full digital servicing via web portals, mobile apps, IVR, and chatbot.

Product overview

CIMR operates a unified complementary pension platform serving three customer universes: individuals/salaried employees, enterprises (affiliated and non-affiliated), and retirees. The core product family includes CIMR Al Kamil and CIMR Al Mounassib for affiliated employees, with supplementary offerings Al Moustakbal Individuel and Al Moustakbal Groupe for non-affiliated individuals and companies. Add-on modules enhance the base products: Options Mousabbak/Moubakkir for early/accelerated retirement, Option Achat de points for point purchases, and Taux modulables for flexible contribution rates. Digital service delivery is channeled through CIMR Dialcom (retiree self-service with web and mobile app), E-Liquidation@ (employer pension requests), Télédéclaration (salary declarations), and e@sypaiement (contribution payments). The MyCIMR mobile app and Ariane chatbot provide additional access points for retirement preparation and service inquiries.

Differentiator

Problem solved

Functional benefit

Brands

• CIMR Al Kamil: Main retirement savings product for companies and employees
• CIMR Al Mounassib
• Al Moustakbal Individuel
• Al Moustakbal Groupe
• CIMR Dialcom
• MyCIMR
• Ariane

Products and services

• CIMR Al Kamil

Quantifiable outcome

• 174,566 pensioners receiving retirement benefits in 2018
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature9 records

Partnerships

One partnership is on record.

• Société Marocaine de Diabétologie (SMD)minorStrategic or Co-development Partner · 9 April 2026CIMR and SMD signed a strategic partnership convention at the 3rd National Congress of SMD dedicated to diabetes. The agreement aims to facilitate access for SMD members to a retirement solution, providing a tailored complementary pension product to healthcare professionals affiliated with the Moroccan Diabetes Society.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• CMR - Caisse Marocaine des Retraites: Morocco's public-sector pension fund offering retirement benefits to civil servants, government employees, and public establishment workers. Direct peer to CIMR: operates a parallel Moroccan retirement scheme for a different workforce segment (public vs private), creating identical actuary/governance challenges and operating under comparable ACAPS oversight.
• CNSS - Caisse Nationale de Sécurité Sociale: Morocco's mandatory social security fund providing the base/primary pension that CIMR complements. Comparable peer because it administers retirement (and other social) benefits for the same Moroccan private-sector employees, and represents the alternative retirement proposition that CIMR's supplementary offering is positioned against.
• AXA Assurance Maroc: Major private insurer in Morocco offering individual and group retirement/pension savings products (e.g., retirementpargne-type contracts). Direct competitor to CIMR in the voluntary/individual retirement savings space (Al Moustakbal Individuel), with comparable target customers (private-sector employees and self-employed) and modern investment-linked product structures.
• Wafa Assurance: Leading Moroccan life insurance and retirement savings provider, part of Attijariwafa bank group. Directly competes with CIMR on enterprise group retirement plans and individual retirement savings, particularly for bank distribution-channel access through its parent banking network.
• RMA Assurance Maroc: Major Moroccan multi-line insurer (formerly Royale Marocaine d'Assurance) with a significant life insurance and retirement savings business. Competes with CIMR on group/enterprise pension offerings and individual retirement savings contracts for Moroccan private-sector workers and self-employed.
• Allianz Maroc: International insurance group operating in Morocco through life and P&C businesses, including retirement savings products targeting Moroccan enterprises and high-net-worth individuals. Comparable to CIMR's product positioning in the voluntary corporate/individual pension space, with a global investment capability advantage.
• Atlanta Maroc: Moroccan insurance company offering life insurance and individual retirement savings products to Moroccan private-sector customers. Direct competitor to CIMR particularly in the individual voluntary retirement savings segment and in point-of-sale distribution via tied agent networks.
• CARAC - Caisse Nationale de Retraite Complémentaire des Agents de Collectivité: French mutual retirement fund (mutuelle) offering complementary retirement savings to public/para-public agents and individuals — structurally and historically analogous to CIMR as a long-established mutual, point-based complementary pension scheme governed by members and supervised by French insurance regulator. Useful model/peer for CIMR's mutual governance and product design.

Regional players

• CNR - Caisse Nationale des Retraites (Algeria): Algeria's national pension authority managing retirement benefits for private-sector (and other) employees. Comparable to CIMR as a national retirement scheme operator in the Maghreb, sharing structural and regulatory characteristics though serving a different national market without direct commercial competition.

Broad incumbents

• AG2R La Mondiale: Major French complementary retirement and social protection group serving individuals and enterprises with retirement, health, and savings products. Comparable to CIMR as a broad incumbent in complementary retirement with group/enterprise and individual product lines, useful for benchmarking product innovation and large-scale complementary pension operations in a regulated environment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/CIMRetraite
• Facebookfacebook.com/CIMRetraite
• LinkedInlinkedin.com/company/57082

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CIMR