Afore Profuturo GNP to reduce commissions.

MEXICO CITY, Nov 12, 2002 (Cronica/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Pension fund administrator (Afore) Profuturo GNP will reduce the commissions it charges to its affiliates: from the 1.67% currently charged on the base salary and 0.70% per year on the administered balance, with the modification of incorporating discounts for all workers who stay in the Afore for five years or more. This discount will reduce the commission by 0.04% per year beginning on the fifth anniversary of membership to a minimum level of 1.27%, which will occur on the 14th anniversary. The change will benefit 2.9 million members.Also, the reduction in commissions on balances for the Specialized Investment Society for Pension Funds (Siefore) for voluntary contributions, which will fall from 3% to 1.98% per year. The changes will go into effect in January.

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