Thread: Global Pension Plan

Originally Posted by Owen Platt

Quote: "The difference is that you can still get who is behind GPP and bring it to justice-assuming its scam its very easy for FBI or other goverment agencies."
This is a popular fallacy. Regulatory authorities are reactive, not proactive. They have no mandate to protect fools being parted from their money. Very often, only if a citizen files a complaint will they bother to investigate. And most of those who are naive enough to expect something for virtually nothing will prefer to remain anonymous.

And do not tell me that they havent been contacted by now

Originally Posted by kalin

And do not tell me that they havent been contacted by now

The UK authorities certainly have as I spoke to them myself. But to date, GPP have committed no offence. They quite clearly state that there will be no payout until 100,000 members have been recruited (there must be a special magic in that number!). But if they fail to obtain that number, no cigar.
And, as there is no way of proving or disproving the numbers or even of identifying the master mind behind GPP, it would appear to me to be pretty much a fool proof scam.
However, those that have acted as agents and collected money on behalf of members, such as team Themco, may not find themselves in such a happy position.

Originally Posted by Owen Platt

The UK authorities certainly have as I spoke to them myself. But to date, GPP have committed no offence. They quite clearly state that there will be no payout until 100,000 members have been recruited (there must be a special magic in that number!). But if they fail to obtain that number, no cigar.
And, as there is no way of proving or disproving the numbers or even of identifying the master mind behind GPP, it would appear to me to be pretty much a fool proof scam.
However, those that have acted as agents and collected money on behalf of members, such as team Themco, may not find themselves in such a happy position.

I am having a laugh-so everything is legal and they can not touch them.So why do you call it scam then.Do you want to tell me that authorities found it competely legal that reverse pencion plan is actually sometnihg which can be done.In this case who is wright-the people that say reverce pension plan is impossible or goverment agencies?It looks like goverment does not find anything illegal and prove the point that reverse pension plans are actually being done in the past and can be done in the future as well.What is your opinion?

Your arguments are fallacious. There is no such thing as a 'reverse pension plan' in the sense that it is used here. Hence it is a scam.
Just ask any underwriter.

Originally Posted by kalin

I am having a laugh-so everything is legal and they can not touch them.So why do you call it scam then.Do you want to tell me that authorities found it competely legal that reverse pencion plan is actually sometnihg which can be done.In this case who is wright-the people that say reverce pension plan is impossible or goverment agencies?It looks like goverment does not find anything illegal and prove the point that reverse pension plans are actually being done in the past and can be done in the future as well.What is your opinion?

Nobody has stated that GPP is legal! As Owen pointed out,membership has to file 100,000 application forms before payouts could be processed. So technically GPP haven't breached the contract yet.Probably never will, because they can claim forever that the 100.000 target was never reached.

For the record,GPP have not proven that they are a legitimate company authorised to collect funds from the public.Neither do they have any licenses to sell to Countries around the world.

Scam.

I haven't been here for a while and haven't read the whole thread.
Just want to point out that the program is DONE - now they only need us to send the documents in.
A lot of people haven't done that yet, but it needs to be done.
Some people are reluctant to do so because of "identity theft" (ridiculous, imo...you can't steal an identity because a copy of a passport! However, for the people afraid of it, you can send in a copy of your birth certificate! That is enough - and that don't carry your photo.

So please, all members - do the last step!!!!
/Karin

Ok, now I have read back a little...LynnRe, are you in GPP?
If not (which I think you aren't), then why bother with discrediting it? Do you think that you are like an oracle, and that we need to be protected from ourselves?

I see that you are very critical to a lot of programs...so please, tell me which programs you are in! They must surely be GREAT programs...

Gee wiz...

And the thing about identity theft - don't you think there are easier ways to do that in case that's what you are after? In Sweden the thing to identify us is our personal number (something like your social security number) .If you have that, you can find any info about you. the thing is, though, that we use this number for EVERYTHING!!!!!
If I rent a DVD I have to give it, if I call my book club I give it, if I go to a bar and pay with my credit card I give it...Heck, even to get IN to the bar, if they think I am under age!!! (unfortunately; THAT doesn't happen me any longer...)

So WHAT is the big deal about giving out a number that anyone can find easily anyway???

BTW, how do you edit posts? Wanted to edit it to include a few more people...like Owen Platt for example.

Also, some people seem to not know how this works; how they can pay out so much...Here is an explanation that I wrote here on the forum when the program started:


Here's some additional info I got about it from a fellow Swede. I have tried to translate it into English
-----------

It's a kind of pension insurance, "�Endowment Policy"
which is common in Great Britain and certain other parts of the world but that is totally unknown of in other countries e.g. Sweden and USA


When the insured person reaches a certain age, in this case 67 years, a one-time payment of $200 000 is paid to the owner of the insurance (the owner does not have to be the insured person)

Payment happens whether the insured person is alive or not. But the insurance can also be sold anytime before �payment date�. This is very common in for ex. Great Britain where it is considered as a valuable paper like shares or bonds. This kind of insurance is even traded on the London stock market.

Among big investors this is a very interesting investment form. In this case we are talking about 12 billion dollars. If you have that kind of money to invest it is not so easy to find good and safe investments. Therefore, a big post of �Endowment Policy is very attractive.



There are other advantages for an investor with �Endowment Policy�. If he wants, he can immediately sell some of the insurances with a profit at the London Stock Exchange. He can also choose to keep the insurances and use them as a security for bigger loans that can be used for other investments.
If the insurances are owned by a trust or company they can declare the whole payment that will be paid as an asset already from the beginning. That means a higher value of the company with advantages as a higher credit rating etc.


Now they have made it possible for 100 000 persons to receive such an insurance for a one time payment of 35$ that you will get 55 000 for. There have been other similar programs previously that have paid as promised.
---------------------------------------

For each person that joins the GPP an �Endowment Policy� is started. It will pay 200 000 when the insured person (you) reaches 67 years. Each insurance costs approx. 41 000 USD (calculated on an average age of 34 years) This premium is paid by the finance institutes that finances the whole program.

They also pay 55 000 USD to every member for the right to sign an insurance on the member. But it is not the insured member but the financing institute that is beneficiary of the insurance and receives the 200 000 when due (unless he has sold the insurance before). On top of this the financing institute pays 24 000 for referrals

So the financiere (?person that pays) pays:
41 000 USD as a premium
55 000 USD as compensation to every member
24 000 USD in provisions/ referrals.

As a total, the �financiere� (what IS the correct word??!?) pays 120 000 USD for each insurance. In return he gets an insurance that is guaranteed to give him 200 000 when the insured person reaches 67 years (or would be 67 if dead before) .
You can read about the other advantages he gets in my earlier post.
The 35$ it costs to become a member goes to the cost it takes to administer the program before it pays and also includes an anonymous debit card.

(now it's Euro, though, not USD)

Originally Posted by Dreamer

Nobody has stated that GPP is legal! As Owen pointed out,membership has to file 100,000 application forms before payouts could be processed. So technically GPP haven't breached the contract yet.Probably never will, because they can claim forever that the 100.000 target was never reached.

For the record,GPP have not proven that they are a legitimate company authorised to collect funds from the public.Neither do they have any licenses to sell to Countries around the world.

Scam.

Well if they do not have licence how they are legal then.If i do not have licence to sell alcohol,but sell it agency come and simply fine or arrest me.If the Goverment agencies can not find sometning illegal in GPP what does it mean-its either you are wrong calling them scammers or agency itself is scam.I know that bashers do not like it:) but explain it if you can.And again Mr Platt if there is not such thing as reverce pension plan why agencies can not find it illegal and warn people.Come on contact Lynpre maybe he will come up with some ideas:)