The spectral efficiency (SE) of Massive MIMO (MaMIMO) systems is affected by low quality channel estimates. Rate-Splitting (RS) has recently gained some interest in multiuser multiple antenna systems as an effective means to mitigate the multi-user interference due to imperfect channel state information. This paper investigates the benefits of RS in the downlink of a single-cell MaMIMO system when all the users use the same pilot sequence for channel estimation. Novel expressions for the SE achieved in the downlink by a single-layer RS strategy (that relies on a single successive interference cancellation at each user side) are derived and used to design precoding schemes and power allocation strategies for common and private messages. Numerical results are used to show that the proposed RS solution achieves higher spectral efficiency that conventional MaMIMO with maximum ratio precoding.