Global Pension Plan

[AccountantKing]

Someone mentioned this below. It's clearly a scam, but I can't quite work out what they intend to do. They're only gong to get in 35 * 100,000 = $3.5m max, and are suggesting they plan to pay out at least $5.5m. So obviously a scam. Has anyone got any experience with this kind of thing? What happens? Do they just say 'we didn't get to 100,000' and then keep the money?

http://www.globalpensionplan.net/forum/faq.php

[icojones]

perhaps they will try the very sophisticated scam of taking people's money and not paying any of it out.

[thunderchow]

A friend of mine sent me info on this offer and it makes sense to me. But maybe I'm missing something.

My understanding is that the initial $35 buys $200,000 worth of insurance. They are allowing 100,000 people to participate which equals $20 billion of insurance. They get a mortgage against that $20 billion at 60% loan to value which equals $12 billion in cash. They pay out $55,000 to each policy holder which is $5.5 billion leaving $6.5 billion. They use $4.1 billion to pay the remaining premiums on the policies until they mature. They use $2.4 billion for their "rewards" program for referral bonuses.

In essence, they are selling the future value of $20 billion in insurance policies for $12 billion of cash now. Then using the cash to pay the premiums and distributing what's left.

It seems brilliant with everybody winning. Somebody help me out if I'm not thinking clearly here.

Derek

[SWAT]

Something is illegal here. I wouldn't sign up for something like that. I am looking to make money online. If anyone has a legit proposition let me know.

[myownicon]

I got something for you SWAT hit me up with a PM.

[Purple Peeter Eater]

I need a referral for Gadget City. Can neone help???

[SWAT]

Originally Posted by Purple Peeter Eater

I need a referral for Gadget City. Can neone help???

Ok, I just PM you.

[Purple Peeter Eater]

Sweeet thx!!1 How do u check PM??

[SWAT]

Originally Posted by Purple Peeter Eater

Sweeet thx!!1 How do u check PM??

You have to go to the user name that you want to send a PM to and just click on the name.

[munabhai]

hi,folks
check this out http://www.investmentcapitalcorp.com do you have any idea about this plan??A lump sum payment of $40,000 to each member, once the membership goal is reached anyone 65 (at program's close date) or younger qualifies for the payout.Only 10,000 members required to proceed
60% + filled.

[Pachoo]

Originally Posted by thunderchow

A friend of mine sent me info on this offer and it makes sense to me. But maybe I'm missing something.

My understanding is that the initial $35 buys $200,000 worth of insurance. They are allowing 100,000 people to participate which equals $20 billion of insurance. They get a mortgage against that $20 billion at 60% loan to value which equals $12 billion in cash. They pay out $55,000 to each policy holder which is $5.5 billion leaving $6.5 billion. They use $4.1 billion to pay the remaining premiums on the policies until they mature. They use $2.4 billion for their "rewards" program for referral bonuses.

In essence, they are selling the future value of $20 billion in insurance policies for $12 billion of cash now. Then using the cash to pay the premiums and distributing what's left.

It seems brilliant with everybody winning. Somebody help me out if I'm not thinking clearly here.

Derek

It's a scam:

1. The problem is in the mortgage loan on the $20B of insurance coverage (to be paid out when the members are 65).

a. No bank will give that loan out, for several reasons. With pension insurance, a person is only paid out if they live to be 65. Many people will die before then, so for each one, that is $200,000 the bank doesn't receive.

b. Let's say that 95% of the 100,000 members do live to be 65. That means that 95,000 policies will receive $200,000 or about $19 billion. Let's assume the average time to payback the mortgage is 35 years, and that the interest rate is a low 7.5%. A $12 billion loan on those terms would mean a required payback of $150 billion, far far more than $19 billion.

It all sounds pretty plausible until you run the real numbers. The only way this would work is if the bank giving out the asset backed loan expects a 1.2% return on their money. That isn't happening. No insurer or bank would back this absurd program.

It is a complete scam. The company is going to take the $39 from each member, and disappear off the face of the earth.

[saifulnizam]

The title itself for me, meaning to get more and more money before our retirement age. So, it could be like other scheme which offer ways or shows us path to get serious into internet money making.
Please refer to: http://onlyinmalaysiamah.com/?ref=nurbatrisyia

I hardly trying to choose which scheme is genuine and hardly want to believe one of those, but in the end of the day, I thought that if I want to get my PENSION PLAN 'alive', I had to do what I have to do as long as the capital invesment or risk itself is rather at minimum stage.

[saifulnizam]

Originally Posted by SWAT

Something is illegal here. I wouldn't sign up for something like that. I am looking to make money online. If anyone has a legit proposition let me know.

I'm new in this what you call, make money online. Can you please check this out for me as I'm hardly interested on it as the risk and startup fee is rather low.

http://onlyinmalaysiamah.com/?ref=nurbatrisyia

[Pachoo]

Originally Posted by saifulnizam

I'm new in this what you call, make money online. Can you please check this out for me as I'm hardly interested on it as the risk and startup fee is rather low.

http://onlyinmalaysiamah.com/?ref=nurbatrisyia

When it sounds too good to be true, it is not true.

I work in the insurance industry. I know all about asset backed loans, pension insurance, etc. This program is a complete scam. I haven't even mentioned the technical nightmare that is trying to get these assets to duration match the liabilities in this program.

Read the horrible wording (with typos, grammatical errors), etc. in their disclaimers, faqs, etc. Notice that their required payments is E-Gold, etc. Notice that there is no real way to contact them.

Come on. This is obviously a scam. ALL of these kind of programs are scams. If the opportunity was real, the company wouldn't be offering to just give the money away. They would find a way to keep all the money for themselves.

[trinigossip]

This is the most talked about program on the internet talk forums. Look, there are a lot of money making programs on the Internet, some work some do not, but this program in particular has the attention of most. Could it really be a scam, or could this really be an opportunity to put money, you never had in the first place, in your pockets. Any money making plan on the Internet that has to do with economy, accounting, insurance plans, stocks or anything of the like, would simply be warnings for me to stay away, because I just don't understand them. But there are experts on these topics in these talk forums, that gave anyone that is or wants to be involved, clear insights on the pros and the cons of GPP. I made up my mind after reading these two links, and with a lot of checking up of course! ;) http://www.bizoppsuk.com/global_pension_plan.php http://www.globalpensionplan.info/gl...nsionplan.html. So here you have it, the pros and the cons. I am in of course; if this is a very ingenious scam, then I lose, whether it be small time or big time. Like I said earlier on, the technicalities of economics and the likes is not my cup of tea. But, from what I understood from all this is that, the organizers of GPP needs to get to a certain amount of money in a certain bank, this certain bank is willing to invest their money on the plan, and a certain insurance company is willing to invest with their insurance policies.... Then what is supposed to be keeping them back from going ahead with this plan? 100,000 identifications, not the 35Eur as most people think. In this scheme, supposedly every one wins, if it does come through, then 2007 would be a very good year for me and my family. This is the waiting club, and I am in it...fingers and toes crossed everyone? let's see what happens.

[Pachoo]

Reread my post. This is 100% certain a scam. They have created an "economic story" to make it sound more plausible, but it simply isn't. I work with this stuff everyday and the numbers don't work out.

If this were real, they would mention which bank was willing to give out such an absurd loan and which insurer was willing to write the policies.

[trinigossip]

Pachoo, I read and re-read your opinion, and of course I won´t argue with you about insurance, since I don´t know A from B in the insurance biz. But, if you had read the two links that I had put in my last opinion, you would have seen that the UK BIZ, even though giving the hard facts about proceeding with caution, they never said no about the program either. And if you had read the second link, you would have noticed that they weren´t talking about the 30Eur as investment to make 55,000Eur. The explaination was quite clear that they want to get stakes in certain bank reserves from a certain bank, and they won´t ever see that money if they don´t get together the 100,000 persons needed for their identification for insurance policies that this certain bank is willing to buy. You think they give a damn about the 100,000 persons? Of course not, but they do need us for our I.D´s, and in return, we are supposed to get 55,000Eur for our " Participation". The returns that the bank would supposedly get on these insurance policies during the years, and when we reach 65 would be enough to leave them fat and happy, the insurance company would get approx 80,000Eur per policy, and on the payout, the organizers from GPP will supposedly get, 11,000Eur per policy. So when you look at it in this light, you would see, that we who are receiving 55,000 to 110,000Eur, is actually chicken feed :rolleyes: So what do I care? Well in the first place, if this thing works out, what do I care if I get this money for lending my I.D ( so long as nothing else is done with it ), this would be money that I never had in the first place, and to top this off, GPP organizers would have to be really cheap and petty criminals to run with only 3,000,000 aprox, I mean, after all this time to run with that? I don´t think so! Therefore, I am giving it the benefit of the doubt that this organization has to have somthing solid behind it Pachoo..... ;) Read the links again and tell me what you think. :rolleyes:

[solidwork]

I agree with you, Pacho. I smell a scam. And it appear that not only will you lose money, but also your identity lending your ID.

[Pachoo]

Originally Posted by trinigossip

Pachoo, I read and re-read your opinion, and of course I won´t argue with you about insurance, since I don´t know A from B in the insurance biz. But, if you had read the two links that I had put in my last opinion, you would have seen that the UK BIZ, even though giving the hard facts about proceeding with caution, they never said no about the program either. And if you had read the second link, you would have noticed that they weren´t talking about the 30Eur as investment to make 55,000Eur. The explaination was quite clear that they want to get stakes in certain bank reserves from a certain bank, and they won´t ever see that money if they don´t get together the 100,000 persons needed for their identification for insurance policies that this certain bank is willing to buy. You think they give a damn about the 100,000 persons? Of course not, but they do need us for our I.D´s, and in return, we are supposed to get 55,000Eur for our " Participation". The returns that the bank would supposedly get on these insurance policies during the years, and when we reach 65 would be enough to leave them fat and happy, the insurance company would get approx 80,000Eur per policy, and on the payout, the organizers from GPP will supposedly get, 11,000Eur per policy. So when you look at it in this light, you would see, that we who are receiving 55,000 to 110,000Eur, is actually chicken feed :rolleyes: So what do I care? Well in the first place, if this thing works out, what do I care if I get this money for lending my I.D ( so long as nothing else is done with it ), this would be money that I never had in the first place, and to top this off, GPP organizers would have to be really cheap and petty criminals to run with only 3,000,000 aprox, I mean, after all this time to run with that? I don´t think so! Therefore, I am giving it the benefit of the doubt that this organization has to have somthing solid behind it Pachoo..... ;) Read the links again and tell me what you think. :rolleyes:

No, that simply doesn't add up. The return the bank would get for giving out the loan would amount to about 1% a year. What bank would loan out money for such crap returns??

35 years is a long time to have loaned out capital. If a bank gives out a loan expecting only a 7% return (unlikely, they will usually want more than a 7% return), over a 35 year time period they would need to get back 10.7 times their initial loan. So, in this scam they say some bank is going to give them a loan for $12 billion (absurd to begin with. How many banks give out those kind of loans??? Especially to companies whose only face to the public is a poorly worded website full of spelling and grammatical errors), which means the bank will demand $128 billion after 35 years. How does 95,000 (not all people will survive to 65) policies maturing at 200,000 a pop come to $202 billion? It doesn't. It comes out to only $19 billion, or 1/7th of what the bank will need.

It is as simple as this: In this scenario, a bank will be ok with receiving back $19-20 billion in 30-35 years on a loan of $12 billion. What bank in their right mind would be ok with that arrangement? That is an annual return of 1.2%!!!

You either work for the company themselves and are trying to make this sound legitimate, or else just really wish this scam to be a true money making oppportunity, but I assure you, it is not.

Like I said before, insurance is a zero sum game. If there really were an opportunity like this, than any single individual could do this himself (turn $39 into $55,000). There is absolutely no need for this magic number of 100,000 people. It is complete bull****.

[trinigossip]

Very well Pachoo, I won´t touch numbers or percentages with you, because like I said, that´s not my game. " You either work for the company themselves and are trying to make this sound legitimate ", this is what you wrote. You know what? If this thing has to really come through, then I wish I was working for them! First of all Pachoo, like I said in my last post, these people would really have to be cheap and petty criminals to run away with only 3,000,000 aprox. Look, there are hundreds of shorter ways to get this this small amount of money in less time than they are taking. They started this thing in 2005 for crying out loud! :confused: I might not know figures like you do, but what I do know is that there are incredible ways in the finance biz world to really make money like this. " (absurd to begin with. How many banks give out those kind of loans??? Especially to companies whose only face to the public is a poorly worded website full of spelling and grammatical errors)". More of your words my friend. Come on now, you think that the people that run banks are angels? Of course the banks would know with whom they are dealing with and are not stupid to divulge this information, it would only hurt their buisness. So long as it is not overly illegal, and there is promise for heavy returns, why not? And remember my friend, there is supposed to be a legit insurance company involved also. Just to finish now, remember that this 30Eur of mine is not what they are supposed to be investing and last, if anyone wants your identity, their exists the world wide web. They could easily have done it like that....So everyone involved, decided to just confide and give in for 55,000Eur. Like I said, it´s only to sit down and wait now.

[trinigossip]

Just in case anyone might want to know how the pension company comes in, this is the info I was waitng for:

"An endowment policy is a life assurance contract designed to pay a lump sum after a specified term or on earlier death (some polcies also include critical illness as condition of payout).

Policies are typically traditional with-profits or unit-linked (including those with unitised with-profits funds).

Endowments can be cashed in early - known as surrendered - and will then be paid the surrender value which is determined by the insurance company depending on how long the policy has been running and how much has been paid in to it. During adverse investment conditions, the encashment value or surrender value may be reduced by a 'Market Value Adjuster' to allow for the need to cash in units at a time when investment conditions are not ideal. This means that the investor would receive the surrender value less the market value adjuster."

So in other words, this is what we are doing. All the members would be surrendering their policies to the bank that bought it from the insurance company, and we would accept the minimum cash payout of 55,000Eur´s. Then the rest explains itself.

[borisf96]

So in other words, this is what we are doing. All the members would be surrendering their policies to the bank that bought it from the insurance company, and we would accept the minimum cash payout of 55,000Eur´s. Then the rest explains itself.

Not very smart thinking. No bank or insurance company would participate in this scheme. You are just fooling yourself.

[trinigossip]

With all due respects borisf96, this is not my thinking, since I don´t know how to think like this. It´s all stated very clearly on the GPP web page and on the links that is on one of my posts. Oh, and by the way, whether GPP comes through or not, there are such things as endowment policies, and certain insurance companies and wealthy banks do work together on these. Thing with GPP is that they are doing it on a larger scale with a certain bank/s that apparently is on in this scheme. I agree it is unconventional, but like I said, let´s see what happens. Like I said before, it really would be stupid to run with only 3,000,000 Eur´s. The waiting game is on.

[borisf96]

With all due respects borisf96, this is not my thinking, since I don´t know how to think like this.

Thats why you are going to get scammed. If you are getting into complicated scheme you better know exactly how it works and does not work.

[trinigossip]

Borisf96, I see you like quotes. That´s all you have been doing so far, you haven´t given any solid arguments as to why this " scheme " wouldn´t work. If you really like quotes, then read this link, and quote us from that,http://www.globalpensionplan.info/g...ensionplan.html . I showed this to people who does know more about this than I do, and they said that if there really is a bank that is willing to back up this project, there is no reason why it shouldn´t work. So borisf96, give us a quote, and some heavy argument to back it up. The floor is all yours.

[borisf96]

Originally Posted by trinigossip

Borisf96, I see you like quotes. That´s all you have been doing so far, you haven´t given any solid arguments as to why this " scheme " wouldn´t work.

1)Read Pachoo argument.
2)Schemes never work in the long run.
3)If their fuzzy math was possible all pension fund would be out of business.

There is another part to this kind of schemes. If schemer knows that he has solid base of gullible folks he will surely start second part of the scheme by asking suckers for more money. He will find a reason and suckers will be happy to obliged.

[Pachoo]

What makes you think a company wouldn't scam people over only $3M? More than likely, this "company" is 2 or 3 people. You must be impressed by the website or something, because I guaruntee this operation (read scam) isn't more than 5 people big.

They are getting as many people to give them $39 as possible, and then will disappear. What do they have to lose? No cost to them, no real work involved. ...absolutely free money. Why wouldn't they do this over "only $3M?"

[Pachoo]

Originally Posted by trinigossip

Just in case anyone might want to know how the pension company comes in, this is the info I was waitng for:

"An endowment policy is a life assurance contract designed to pay a lump sum after a specified term or on earlier death (some polcies also include critical illness as condition of payout).

Policies are typically traditional with-profits or unit-linked (including those with unitised with-profits funds).

Endowments can be cashed in early - known as surrendered - and will then be paid the surrender value which is determined by the insurance company depending on how long the policy has been running and how much has been paid in to it. During adverse investment conditions, the encashment value or surrender value may be reduced by a 'Market Value Adjuster' to allow for the need to cash in units at a time when investment conditions are not ideal. This means that the investor would receive the surrender value less the market value adjuster."

So in other words, this is what we are doing. All the members would be surrendering their policies to the bank that bought it from the insurance company, and we would accept the minimum cash payout of 55,000Eur´s. Then the rest explains itself.

Yes, this is endowment insurance (whose parameters I already outlined in my earlier post). So you think this is legit because they are proposing to use a real insurance vehicle? That impresses you? It sounds like you are convincing yourself that this isn't scam simply because you find out that a word that that website uses is actually something used in the financial and insurance world.

Come on. Endowment insurance isn't something that no one knows about. Everyone who works in insurance knows about endowment insurance. It is one of the basic types of policies. It is NOT something to be impressed over. BTW, the way they outline how to use endowment insurance would never work in the real world. It is complete and utter baloney.

[Pachoo]

Originally Posted by trinigossip

I might not know figures like you do, but what I do know is that there are incredible ways in the finance biz world to really make money like this. "

You can't make $55,000 from $39 even in the finance world. I have no idea what gave you the idea that that sort of thing was possible.

[Pachoo]

Originally Posted by trinigossip

More of your words my friend. Come on now, you think that the people that run banks are angels? Of course the banks would know with whom they are dealing with and are not stupid to divulge this information, it would only hurt their buisness. So long as it is not overly illegal, and there is promise for heavy returns, why not?

1. Banks only have so much capital to lend out. Not many banks have $12 billion of capital just laying around, and those that do aren't loaning that sort of amount to ANYONE, let alone some retarded internet scammers. $12 billion loans SIMPLY NEVER HAPPEN (unless it is to other nations, in the form of bonds).

2. What promise of heavy returns are you talking about? $20 billion given back 35 years lafter for loaning out $12 billion? That isn't heavy returns..that is absolutely HORRIFIC returns. If a bank bought $12 billion of long term government treasury bonds instead, after 35 years they would get about $56 billion back, guarunteed. Why would they choose to get $20 billion back over $56 billion????

[trinigossip]

Hey Pachoo, nice to see your comments. I counted four of your comments in a row my friend. If I didn't know better, I would say that you wanted to have an impressive post count, or maybe you are fishing for information because you are already a member in GPP and you want a peace of mind, or you want sufficient info to join. :rolleyes: Pachoo, everything you said so far was just blabber. Supposedly, these forums are supposed to help people with the pros or cons of supposed scams. So far, all you did my friend was just quotes. If you want to help, or to maintain your peace of mind, you have to come with very solid arguments, so that even I might have second thoughts...So far you are just blabblering. And by the way, if you had read very well, you would have seen that the 30Eur's is not what's being used for the investment, have a good day my friend, and do what your heart tells you to do, bye.

[Pachoo]

You are the only person who thinks I didn't make solid arguments. I made great arguments that make it clear this is nothing but a scam.

Everyone else reading this sees that, I am sure.

There is no way anyone could be this obtuse. I am convinced now that you are working for this scam company (the only posts you have ever had are in this thread and your posts are of the advertising sort).

The sheer absurdity of this "plan" is laughable. If any bank ever gave out a $12 billion loan it would be on the front page of most newspapers around the world. There has never been a loan to a private company anywhere CLOSE to $12 billion, EVER.

[trinigossip]

Am I annoying you? :rolleyes: This happens to be one of my traits. Who knows, maybe I am so slow to catch on to your very "solid arguments":p or...maybe, it´s because I have seen the impossible happen a couple of times to see that here is something quite interesting. Pachoo, like I said before, if this comes through, then I wish I was with them. BTW, how do you know that I have never been on other threads trying to prove myself wrong? Thing is, no one has come up with anything that I haven´t read before. But you know what? I think I´ll hold up for a while on my opinions until someone comes up with something to really scare the hell out of me. And you know what? I am part of 64,000 plus participants that thinks that here is a program that shows something solid and not fictitious, so I am not alone my friend. Have a good one, bless.

[priya]

I was following the posts and i must admit that pachoo is really making sense while trinigossip is just beating the bush. I was looking to join GPP but i wanted to do DD first and i must say that 99% times i felt that it is a scam. However i still hope that it come out to be true and noone is ripped off their valuable money.

[stopscammers]

trinigossip, get over yourself! THIS IS A SCAM and so aren't all the other similar programs that have popped up within the last several months. They are ALL most likely run by the same few SCAMMERS!

[jaganbabuv]

Thanks lads.. i was about to join in this scheme..

[jrosmalen]

You can talk for months about GPP.
For me its a lottery and thats why a signup.
Now I have 250 referalls downline.
If they will pay out then I earn €55,000 + a lot more.

So, if I buy a lot in the lottery, how large am the chance on a price?
Think to that once.

Programs for your succes
http://jackvanrosmalen.ws

[trinigossip]

jrosmalen, it's nice to know that I'm not the only one with positive vibes about GPP on this forum. But you shouldn't think about this program as a lottery ( just saying that would be giving borisf96 and Pachoo something to talk about... :cool: ) Remember that a lottery is always 1:1,000,000, on the other hand, if everything goes as it should with this program, everyone wins. So, good luck with your referrals and let's keep our fingers and toes crossed! Total Members In our Plan: 69104!! Today we are going to make the 70,000!! Luck to everyone, bye! :D :)

[Pachoo]

Great, not only did both of you guys get scammed, but you are helping other people get scammed. Brilliant.

This is nothing like the lottery. With the lottery you have a chance of winning, a very small chance, but it is there and it is legitimate. This is a different animal. There is 0% chance this is anything but a scam and there is a 0% chance you will see any money from it (and a 100% chance that you lost your $39 and the $39 of many other people).

But hey, at least you have helped these scammers steal a little more than $2.7 million so far. Great job!! Now that is something to be proud of!!!

[Pachoo]

Oh, BTW, what do you know, another poster with no posts until this thread talking up up this scam. Doesn't that make you a little suspicious about their motives? It is almost as if they are schilling for these scammers.

jrosmalen's signature actually has a weblink that advertises 3-4 scams, including Global Pension Plan. Wow, what a surprise. :rolleyes: