São Paulo, 8/6/2003 (Agência Brasil - ABr) - The sale of private pension plans (planos abertos de previdência complementar) rose 71.74% during the first half of 2003, bringing in R$ 6.3 billion compared to R$ 3.6 billion during the same period last year. The rise takes place against a background of debate on government pension plans.

The association of private pension plan companies (Anapp) reports its assets have risen 50%, from R$26 billion to R$39 billion, in the last 12 months, and should reach R$47 billion by the end of this year.

A survey by the Anapp found that one of its best selling items is a plan for people who do not pay income taxes (known as the VGBL plan). The survey also found that 92,000 firms now have private pension plans for employees and that some 5 million people have the plans. (AB)