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Global Pension Plan is a scam, period!
By alan | January 26, 2008
Some of you probably have head about GPP (global pension plan), the new fangled pyramid scheme “reverse pension plan” promising you 55,000 EUR with a membership fee of only 35 EUR. Check out this article for more details.
Also think about this:
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.
Topics: Scam Warnings |
May 16th, 2008 at 2:54 am
I agree with you thst GPP may be a scam. I have been with them for almost four years and have been misled and lied to about the payout. The klongeer it drags out the more it becomes a scam. Buty, for to claim that thyue could not payout is erronius. I am in a few of these. One is oaying out now. I wil let you know when it happens, just to prove it. Obviously you know noting of offshor e finance. I do!.
Tlak to yu in abou 6 weeks.
May 16th, 2008 at 3:09 am
Ok Steve. Thanks for your comment and I do hope you get paid.
Also I’d like to know how you can back up your claim that I know nothing of offshore finance and _YOU_ do. C’mon and post some explanation as to how their system is realistic and achievable given you supposed knowledge of offshore finance.
Also I’d like to add that just because you’ve been paid does not guarantee that a program is not a scam. Have you heard of ponzi schemes, or HYIPS?
But anyways, talk to you in 6 weeks as you say.
May 28th, 2008 at 3:05 pm
Hi,
Thanks for answering. Yes I know of ponzi schemes and manhy other schemes. I have been taken for a small amount of money because of my caution. I chalk that up to learning fees. But it is possible that as you shovel through the garbage, you may just find a diamond.
As for offshore: That is a large topic. Simply put it is a palce to go if you are fed up with big brother. But if all you know that it is just a place to hide your money, you will be taken for a ride. Offhsore is actually for becoming a new person. You completely walk away from your past. Emotional ties must be cut as well as family ties. Otherwise why on earth would you want to disappear? So many people hide their mony offshore and get into a sticky situation. Mainly becasue they cannot keeop it a secret.
I have no emotional ties to anyone except GOd and I. So I can live anyhwere I choose where it is pleasant for me.
The most common thing in todays world is DECEPTION. It is rife. Start with Mr. Bush and the belief systems being promulgated into the minds of the masses. If the population of the world knew what the politicians and their sexcret supporters were up to, they would rip them to pieces with their bare hands.
Do you know what a certificte of money is on the internnational market? This billions of dollar stuff.
God bless
May 28th, 2008 at 3:27 pm
Well I won’t argue that it is not possible to come across something good once in a while.
By the way feel free to share your knowledge of the offshore world over here at my forum:
http://www.moneyguruforum.com/finance/offshore-world/
I’m sure we can get a lively conversation going.
Cheers,
Alan
July 16th, 2008 at 4:50 pm
Seems like they are about to pay out, according to this email from GPP (TheBestbizness@aol.com)
Hi folks,
At last the instructions for which we have been waiting!!
This from Stella: -
“Dear Members,
We are now ready to start accepting the documents. Please follow these
instructions carefully to ensure the safe delivery and to save both yourself
and us from further trouble and extra work.
1. Scan your passport copy and the completed and signed Membership Agreement. Make two JPEG/JPG files, don’t combine them into one file. One file must not be larger than 1MB, so use 150dpi resolution.
2. Compose one email with only your username in the subject line and two attachments. Do not write anything to the email body, it will not be read. Do not send more than one email for one member.
3. Send the email to: (email address will be revealed on the 17th of July)
4. Check your email account for an automated confirmation.
Please note:
- only JPEG/JPG (same file type, different name) files are accepted (other file types will be automatically rejected)
- emails larger than 3MB will be automatically rejected
- use the same email address to send the documents as you have saved in your profile
You will have one month to send the email with the scanned documents:
from 17th of July 2008 until the 17th of August 2008.
This information is not to be publicly regenerated and published outside this forum.
Thank you for your cooperation!
Regards, ”
Cheers
Lynda
Whoops, it says you can’t reproduce this info outside of their forum. Just as well I’m not a member then, eh?
July 16th, 2008 at 5:26 pm
lol Lynda…I’ll believe it when I hear that EVERYONE got paid, not just a few. Even a ponzi scheme pays, but just not everyone. I guess we will have to wait and see.
Thanks for sharing the info Lynda.
Feel free to start a Global Pension Plan thread on my forum btw:
http://www.moneyguruforum.com
I check it very often so we could probably get a pretty lively conversation going - about GPP of course
Cheers,
Alan
July 20th, 2008 at 10:45 pm
is it an scam or not???
July 20th, 2008 at 10:52 pm
I’m on the scam side of the fence. Jena, time will tell.
August 6th, 2008 at 12:09 am
Are people still believing this bollocks??
good luck to those who submit their docs, with signatures, photos, bank details to a unknown, untested organisation(probably eastern european) who provide not even an address or phone number
it is a scam, end of story
August 6th, 2008 at 12:12 am
another ting to add
the numbers are fantastical - we are talking money that would crash JP Morgan, CitiBank and HSBC COMBINED. 5 times the profit of Shell, BP and Chevron
as with most scams, make the story so unbelievable that people cannot fathom the numbers so just go dumb and believe it
August 6th, 2008 at 3:14 am
Tell me about it! The whole thing is so damn ridiculous that it just boggles the mind that some people still hold on to the pipe dream and can’t see through the financial nonsense.
*Sigh* What greed can do to man.
August 12th, 2008 at 1:35 am
Well I have 6 policies. If it does pay out ill get over Euro 300,000
Ill take teh gamble! Thing is why oh why would they not have closed the books and ran by now? Why are they accepting teh documents? What would be the point?
August 12th, 2008 at 3:25 am
I don’t know why they haven’t ran yet. Who knows, maybe they want to steal a few pieces of ID before they flee. Like you said, it is a gamble. I very much doubt you’ll get those 300,000 but hey, if you do, all the more power to you. Even if some do get some money it probably will have come from others who paid late into the system…ie it was ponzi scheme.
August 12th, 2008 at 2:13 pm
Well I too am in the GPP and am worried that I have to send in ID but we have all known this since paying our initial fee.
I am 99% sure we wont get a payout but there is the 1% chance that it may pay out and its that 1% that many of us who joined the GPP are hoping for.
I do think that it will payout, but I reckon that the money shall be given to GPP to hand out to us policy holders and guess what…they wont…not only are they rich now…they will be richer!
I am intrigued to see how GPP finally ends….maybe a picture of so called ’stella’ A black man with breasts with a bottle of Stella Artois in his hand and a card in the other saying ’suckers’
Who knows….?
August 12th, 2008 at 3:24 pm
hahahaha…:) oh that’s one funny way of having it end. They really should do that. Criminals with a sense of humor - what a refreshing twist.
August 20th, 2008 at 6:55 pm
I read the first passage about how ‘no bank would finance a loan as low as 1,2% with these prerequisites’. Well, wasn’t the whole idea that some person/business/foundation had $8B to put into this and turn it into $12B by the end of every policy turn-out? In that case, I guess the math could hold… even though it’s hysterical.
Anyways, I am seriously intrigued to see what comes out of this. I bet my money that it’s a SCAM. And WHY would they still keep it active? Because that way they can milk you for more money. Why run and close the books when no one knows who you are and you have hundreds of thousands of people willing to “sign up for an extra policy at only €10!!! Only 250,000 policies available now. A once in a life time opportunity to get filthy rich!!”
This last year they’ve had three set pay-out dates without any pay-outs. Always something happening or due to unfulfilled requirements. This behaviour is also known as delaying and keeping up appearance. I bet you they will soon say that everyone who wants their banking issues taken care of, only have to pay a small fee of say €10 to get their credit card/s. You will probably receive your credit card (keeping up appearance), but some “snag” actually caused your funds not to transfer yet. They will be available on your account in, let’s say 2 months or 8 weeks… and so on…
I was added to this thing by a well-meaning friend but immediately erased all my data and info. I would NEVER submit any copies of my ID/Passport, in color and perfectly readable as they ask for. That’s just begging for trouble. Before you know it, you’ld have a stiff loan in Angola or Nigeria and 2 luxury cars i Kuala Lumpur that you actually handed over to “Stella’s husband” because she is such a likeable person…
just my 2 cents…
August 21st, 2008 at 7:56 am
I agree 100% with your assessment. And I may add that nobody in their right mind would hand over their private information to these GPP people.
August 25th, 2008 at 6:16 pm
well, as of now they are talking a LOT about how the sheep of the media don’t dare to send in their ID-copy and such. Saying that some people are idiots, browsing internet forums and getting hypnotized that GPP is a scam. So, now they urge everyone to recruite at least one more person to join the program that will actually have the balls to send in their papers. So there it was, the new way to get everyone to get someone else to join, doubling the income for the people behind GPP.
In my opinion, if everything’s done and all it takes is the paperwork to be filed. Why don’t they give away the additional slots for free to anyone willing to take the risk and hand in their papers? Of course, not… because that is how it works. They are calculating that a lot of people will have doubts about sending in their ID and that makes a perfect excuse to beg for more members… I mean, what about those extra 250,000 plans they had up for grabs when the first 100,000 were filled… if they have 350,000 plans and can’t get a 100,000 papers, I guess they are not seen as legit by their own members…
August 26th, 2008 at 5:51 pm
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August 27th, 2008 at 1:21 am
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