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This was one of the most searched and discussed programs on the old HYIP Blog (over 500 comments). I’d give my analogy, and you can bite me if everyone is paid $55,000.00 in the next 10 years.
What is Global Pension Plan?
As advertised, Global Pension Plan (or GPP for short) is a venture registered in Liechtenstein, offering a possible payout of $55,000.00+ when you join them with a membership fee of $35.00. With your money, it promises to cover everything, including administration of your membership, the website costs and hosting, the banking solution and all.
Quoted from GlobalPensionPlan.net
“The face value for each member’s pension plan contract is €200,000.
Of this amount 60% or €120,000 will be disbursed as follows:
Premium for the policy assuming an average age of 34: €41,000
Loyalty Program Rewards (€2,000 x 12 levels): €24,000
Compensation to each member under 66 years of age at
payout: €55,000
Total amount disbursed: €120,000”
The scheme promises to create a series of contracts for each of the 100,000 members, morgage them to release the funds.
A good warning then was from this UK biz Site, which everyone should read. Still $35.00 was nothing much to lose, and to everyone, it’s like trying for the lotto.
The number has since been reached, and the last that I heard, they’re still raising funds even after the magic number.
From ‘Stella’, whoever it is from GPP
Dear Members,
We have finally figured out the deadline for the program, and
here it comes! This is going to give the members a clear schedule how to work towards the rewards.- program will be closed on the 31st of December 2007
- documents have to be provided during January 2008
- payout will be between the 15th and 29th of February 2008
To make the short story a little bit longer, we are going to close the program on the very last day of year 2007. This gives you all enough time to complete the profiles and recheck the information you have provided. Also, there is enough time to handle all the inactivation and downline modification requests (please see my earlier update).
The recently launched 250,000 Additional Policies campaign doesn’t have any effect on this closure date. If we only sold 10,000 Additional Policies, or all 250,000 of them, the program will be closed on the 31st of December 2007.
The ID copies and the agreements (latter will be downloadable in the member area starting on the first of January 2008) must be returned during January. There is one full month to send us what we need and that should be enough for every single member. Full instructions of how to complete this step will be available during December.
And the date that matters you the most is the payout date. The Trust Partner has worked with the insurance company to be able to shorten the policy handling time after all the members have provided the documents. The payout is projected to happen between 15th and 29th of February 2008.
I am sure this update clarifies a huge amount of confusion amongst the members. Please share the latest news with your group and assure them that we are on the track heading to the great success!
Thank you for your support and cooperation!
You’ll expect more delays in February. Simple maths,
$35.50 x 100,000 members = $3,550,000.00 (input)
To pay over $55,000.00 x 100,000 = $5,500,000,000 (output expected)
Just looking at the zeros behind makes it really daunting. You have your usual insurance policies or life policies that you get over the shelf with insurance agents like Great Eastern, Prudential giving you a premium after depositing monthly/ annually a sum with them after a stipulated period of time. The reason why they’re able to cough the guaranteed premium is that they do invest your funds somewhere and it does take awhile for your fund to mature (not to mention making a good sum for their own too)
When did GPP started? Late 2005, and till date it’s 2007. To cough over 154% over a magnitude of 3.5 million over 2 years will take the art and work of Warren Buffet or George Soros for that matter. Not to mention the fact that the magic number was reached only a few months back, which means they didn’t actually start with 3.5 million for any types of investment.
Oh, there’s this 2,000.00 bonus for each referral too. It doesn’t take rocket science to know that this wont work out.
What comes after this?
It’s just delays and delays, people will just forget about their $35.00 whilst some of them will still pray for it. With the 250,000 contracts just started, you can expect another 250,000 members being scammed in the process. Reminds me of FLO when we started out HYIPs.
You can share with me your thoughts via comments or discuss with our Global Pension Plan thread on Nobullshit Network Forum
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Right you are!
After participating in a couple of them I made the conclusion that these cannot possibly pay out what they claim!
One of them even closed down my account and threatened to remove all of my downline based on what I posted in my BLOG!
It’s all crap. Pure scams! One time payments for future megabucks! Yeah right!
Stay away from so-called reverse pension plans!
js/admin at 9planetreviews.com/blog.shtml
I couldn’t agree more with Jude’s assessment. These so called reserve pension plans - and GPP in particular - are scams. I always ask myself, how can people fall for such nonsense.
My suggestion is that if people want to gamble they’re better off putting their $35 in the lotto. At least there you’ll have a chance - small as it may be - of winning
oh you of little faith!!!
So you’ve been paid wanda?
I agree with you Wanda.
I think this sums it all up about RPPs:
http://www.oneworldincome.com/2007/08/16/reverse-pension-plans-myth-or-reality/
Global Pension Plan for dummies:
-Hi, can you lend me 20 euros?
-Sure, here they are.
-Thanks, I will pay you back right now. Here are 4 euros.
-??
-Actually, 4 euros are the same as 20 euros. When you put these 4 euros into a savings account at a 5% interest for a period of 33 years, you will end up with 20 euros. So I have paid my debt to you, haven’t I? And I’ve got 16 euros for free. We’re both winners!
Somewhat more complicated:
-Hi, can you lend me 20 euros?
-Sure, here they are.
-Thanks, I will pay you back this way: I put 4 euros into a savings account of Harry’s. You may have that savings account.
-??
-Actually, 4 euros are the same as 20 euros. When you put these 4 euros into a savings account at a 5% interest for a period of 33 years, you will end up with 20 euros. So I have paid my debt to you, haven’t I? Harry receives 5,50 euro’s for using his name. And I’ve got 10,50 euros for free. All three of us are winners!
Somewhat even more complicated:
-Hi, can you lend me 20 euros?
-Sure, here they are.
-Thanks, I will pay you back this way: I put 4 euros into a pension plan of Harry’s. You may have that pension plan.
-??
-Actually, 4 euros are the same as 20 euros. When you put these 4 euros into a pension plan at a 5% yearly return for a period of 33 years, you will end up with 20 euros. So I have paid my debt to you, haven’t I? Harry receives 5,50 euro’s for using his name. I have met Harry througth some friends. I’m very happy that I now know him. So I will pay each of the 12 friends that have brought me into contact with Harry the amount of 20 cents. And I’ve got some 8 euros for free. All fifteen of us are winners!
By far the most complicated (the Global Pension Plan):
-Harry, I know a bank that will borrow me 200,000 euros. I can pay them back by putting 41,000 euros in a pension plan. [These bank people will have to wait another 33 years to get their money back, and for all those years waiting they don’t ask me to pay any interest at all. They are the nicest bank people I have ever met. For that reason, I keep their names secret…]
However, I need to use your name for a moment. You will get 55,000 euros, and to your 12 friend will receive 2000 euros, I promise. As for myself, I will keep the remaining 80,000 euros.
But all this money will come later, when everything is settled.
The only thing you should do at this moment, is giving 30 euros to me. We call this: “administration fee”.
Who is the winner here?
Answer: The winner, that’s me! I receive 30 euros from Harry.
The rest of the story is nonsense. You cannot find anybody who would lend you a large sum of money for a 33 year period without asking any interest. 20 euros at this moment do not equal 4 euros at this moment, even when these 4 euros will be worth 20 euros in 33 years’ time. The pension plan story is a smoke screen, used only to make it look plausible that I need someone else’s name for this scheme.
The loser is Harry. He just lost 30 euros. He may put the blame partly on his 12 friends. They persuaded hime into participating, because I promised them 2000 euros each. These friends believed in getting rich in a pyramid scheme. However, they will not get their 2000 euros for each participating “Harry” either.
I’m going to share this with everyone if you don’t mind.
ha! guess what..their website is down..surprised? don’t be! webhosting problems? doubt it! scam? most likely!
STAND BY!
update..my bad their .com site is down but the .net site is still running…still doesn’t change the nature of the unworkable scheme they are drying to lure you into joining.
Now have a little more faith! *chants mantra and emits chakra from Jude’s body*
[…] 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. […]
[…] 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. […]
lol was that supposed to be funny Jude, cause if it was I sure did not get it..anyways…:)
I can honestly say that this is a scam. I signed up last summer and was told that I was going to receive my money in November of 2007. Unfortunately, I have not received anything and it is already June 2008.
You guys forget one thing. Life never works out the way you want it in that exact moment. You are the guy waiting for the money, you live in your own world of perception, and when things don’t go right you tend to start looking for reasons why this is nonsense. The reality is you never belived it was possible to begin with, but somehow you still decided to do it, because you want to achieve that success you read in books or in magazines. The bottom line is you don’t know whats going on behind the scenes. This is complicated stuff. They just asked for paper work, which is a good sign. Your money that you spent is not money you would have put any where else that would yield you a better ROI. Go to the local food diner, the only thing you yield for your 30 bucks is heart burn. So think about it from that stand point. How often do we waste are money on things that can’t bring us any kind of ROI. I honestly belive GPP will pay out in about 2 months time. They are dealing with world problems too. You have no idea what the banking world is like, and opening your own bank is not and easy task. There are many licenses that you must get. My friend in Canada is still trying to open his bank in Switzerland, and its been 4 years. So much red tape just in that alone its not even funny. People spend more time saying something is a scam then just investing and move on to the next thing life offers you. Life can be a scam in every corner you turn if that’s the way you always think…
Keep the Peace
I couldn’t agree more with what you have written. I have been in this for a while and it has reached the target of ‘policies sold’ but unfortunately the delay now comes from people who have been in it for so long that they are ticked off and now wont follow simple instructions and take the final step. We get called stupid for going into this but how stupid is it to sign up, pay your money then decide not to follow it through thus delaying things for everyone and to top it off moan about it being a rip off cos you haven’t been paid! Hello….if you have joined follow it through till the end and hope for the best because the worst is you have only lost a few dollars. Smokers pay more than this a week and only invest in lung cancer.
I agree
Amen
ahh, lets see. If we dont get our money, well all travel to germany and kick their ass. Demand our money, or sew their asses..
SEE YOU AT THE BEACH. I WILL BE WEARING A SMILE!
lol..I’ll believe this nonsense when I see a scan of that “big check” you GPP “investors” are due to receive. Until then you’re all just suckers who fell for another pie in the sky get rich quick scheme.
Oh, and don’t forget to send in your private info so they can possibly engage in identity theft on top of the regular old fashion financial theft.
To Chris: Maybe you should ask your banker friend to go over the numbers with you and tell you if you’re sane or not for investing in this scheme.
To Jenner: Hmm, let’s hope so. If not, the folks behind this scheme will be the ones sitting on the beach wearing big smiles, and not to mention rolex watches. All thanks to you of course, so keep on smiling because you did some good charity work.
Cheers,
and happy investing…or rather happy waiting
*Applaudes
I am so glad that I trust in GOD Jehovah, JESUS CHRIST and Holy Spirit who will never lead me wrong and your comments further lets me know that my trust is not in man it is only in them.
Thanks
http://alansmoneyblog.com/2008/08/26/global-pension-plan-scam-update/
Read the two quotes at the top.
Hello,
Did you all read the second notice made by Breadforkids. org about Global pension plan? Take a look here:
http://breadforkids.org/notice.htm
Lynda
Chris, 2months come & gone! Which beach you on? I have just been ‘invited’ to also become rich! Did it work for you? (or anyone else)
I thought the cut-off date was Dec 2007!
Is there anyone that has been paid out yet? Some have been in the plans for a while…
I’ve just been invited into this scheme and was told that it closes on January 31st 2009 to rech 100,000 policies and payout of 55,000 euros in April May time 2009.
Now just come across this thread in doing my due diligence and it was meant to have ended last year?!!
Has anyone been paid out ever?
nobody has and nobody will…except the people running the scheme…
I was given the website: www.globalpp.net late Nov. 2008. There is a site by this name but it is definitely not the same as was advertised a few weeks ago. All in all, I guess that I can kiss my money good-bye, right?
www.globalpp.tv
HEY CAN anyone tell me whats going on in GPP..im not able to login into the website they provide i.e. Globalpp.net. There is no such website present..please can anyone let me know what is all going on..is is scam..is the game over???
This site has changed to globalpp.tv instead. Stella forgot to pay for the domain again, so they had to change the extension. Program closes tomorrow 31st… Payout should be right around the corner. Keep the faith, that’s not hard to do…
I am infact very close to the people who have set up a GPP plan, I am here to tell you my findings because they have taken over 10,000 of my money and promissed i would get paid. GPP has and never will have any intentions of paying out to the people whom it has stolen there money from in the first place.
They have moved the deadline to many times and they now have said they will be closing at the end of 1-01-09 even if it has nor reached its target of 100,000 people. They have closed everything but have yet to let anyone know what is going on. If you have the chance to get your money back i would advise you do so.
My advise to you if you want to invest your money then find a website that has anything to do with P2P. I have made lots of money doing so, you money is safe and you cant lose you first payment so you will always be playing with OPM. i started with $5,000 i then doubled my money in 2 month. i now am at $20,000. I am proof that it works.
Do not do anymore GPP investments they do not work.
If you are that close to the GPP people then you should have known it was a scam all along. It makes no sense. If you gave someone $10,000.00 and you had the inside scoop all along. Then that is your fault. If I was that close to someone and had the inside scoop then I would know if it was fake or not from the beginning. I don’t think you have the inside scoop I think that you finally realized that it was not real. People keep blaming GPP and the other reverse pension plans, but they only have your money because you gave it to them. They haven’t taken anything from you…. Heck people have lost their 401K in this credit crisis but no one is blaming their banks, and the reason is because they gave them their money and since any investment is a gamble. They lost it.
You can’t blame the companies, we have to accept our losses and move on. Sometimes you win and sometimes you loose.
How can we get our money back from GPP.
They had me like they had everyone else, The way the pention plan works is real. You all seem to not be up to speed as to what is going on behind closed doors. I met with my friend he told me everything and anything to make me join its bomb proof so thats why i was in. As for them never paying out i was a bit of the mark because of my anger about this.
I was told we will not get our money if there was not 100,000 people in. Well we know there is 100,000 people in because they told me so i said then where is our money. they said they are not going to be paying out as there are not enough people in. This is what i was saying as to they had no intentions of paying because i was angry at the time. But still it seems there will be no money.
The way the GPP works is real because it works like this, I am the man at the top say for exsample. I have 100,000 people and i have opened pention plans in there name. Now thats security aginst a bank loan they only pay out a portion of a pention to you. Not as if you had a pention and got 80,000 pounds you would get 60,000. You would get your money NOW and they will wait for you pention to pay out in 25 years this then making them billions.
The method has worked in a 10,000 peopel GPP because i did it but a much smaller pay out of course. This Is also another reason i gave this a shot with so much money. I have a few things in mind and will keep the site updated about investmen i have been part of and made lots of money from. As far as GPP stands LEAVE WELL ALONE.
Please stop all of the negative comments it not working!!! If you have bought one police or 1000 it does you no good talking negative about it!!! you should of thought about that before you joined!!! I personally have a lot of policy and unlike the rest of you’ll I am excited about it and thinking of ways to change my life and the life of all of those around me! This is an chance of a life time so if you think that it’s a scam then take your lose up front tell them that you don’t wont to wait unto the payout and tell them to cancel your membership!!! But don’t miss things up for the rest of us!!! Yea I cant see it but yet I AM HOPING TO SEE IT SOON JUST LIKE THE REST OF YOU!!! so Please keep the Faith and get rid of the trash!!!
who has any news??? Who has received a card already?? Or do you know someone who received a card or money already?
I just recieved my card, all you non believers need to get a brain and do as the believers say! Hang in there! Smile on my families face?? Hell Yeah!
Anyone more who has got the card? Or are you the only one?
Why are you in here if you got it? I´m sure I shouldn´t. I would be planning the future!
What i want to know; Are you telling the throught?
I am in here to prove all these no believers wrong and to re- assure the investors! So YES I am telling the truth, my $$ was put into a swiss account which I was able to withdraw as I pleased! There is nothing like the feeling of “winning the lottery” so all you non believers can keep buying lotto tickets if you like, but your chances are definately better with GPP and a fraction of the $$$$$ considering the amount you would put into lottery in a lifetime and never win!
Oh, ok!
I have always belived in GPP, no doubt about that!
So, where are you, in what country? Because if you has got your card already, then we others will get it the nerest days, right?
Wow, I can’t believe how such big fools you people are…you’re not going to get any money from GPP! lol…PT Barnum was definitely right!
WOW, you have a lot inside that you have to get out man.
Share it with us please…
Mia, I got my card too from GPP. But not everyone will get paid from GPP. Only us the selected and exclusive few. If you did not get your card then you’ll never get one. LOL hahahaha I’m enjoying my money while you will wait for your card forever
This is a pour attitude to take. That money will disappear quicker then you realize. The truth wealth is with in. If your don’t have balance in these principles you will loose the money. Money is nothing but stored energy. If your not ready handle it then you will not hold on to it very long so be careful in the way you present your self. Good luck with everything… Its becoming a Wealthy individual Serving Humanity, not severing your self…
chicosan!
So, if I got it right, YOU, who are meean, you´ll get it?
No I don´t think so. You´re not very nice writing the way you do!
We are so many people that wants to help all those around us that needs this in one way or another. I think that´s the reason it will come to us!
What gives you the right to say that? Why would you be more special than any one else so you get a card and others do not do me a favor and get over yourself! If you got a card make a copy of it and post it on this site otherwish keep your B.S. to yourself!
Chico can´t copy the card, because there isn´t any card in *he´s hand!
I think we just gonna ignore what Chico is writing, otherwise Chico is getting the attention he wants and need =)
Mia
No kidding, Do some people receive a real card? If yes, where do you live? Thanks
I’m from the US and it’s a Visa card.
Nobody else has received his card. Chico seems to be the the only one who received something. He affirms this affirmation on many blog but who really know….
I’ll try to believe in a other week
lol ZABY
Dear Disco,
First of all thanks and god bless for your awsome post. I am so thrilled as i am a very old member of GPP. If you dont mind,is it really true what you posted.Please dont mistake me, I am very curious if you can doubleconfirm or throw some more light on the details would be highly appreciative. Is there anyway that i can contact you would really be great!Please respond Disco. If any other member who has got the card please comment.Thanks & God bless All!I am almost on the verge of losing my home and would highly appreciate some positive concrete confirmation of the cards arriving as i have HUGE expectations from the payout!
Sorry I’m just a pathetic loser who likes to pretend GPP is for real. Get over it, GPP is a scam
Well back to playing the market I guess. I am waiting for a card too
I’m also waiting for the card. GPP said in the website that deadline is 6/30/09. If somebody knows anthing about it, let me know. I don’t want to hear anymore opinions. Write only if you have any truthful fact.
Spot on Jude - but careful!
The title of this post implies that some other form of reverse pension plan might work, just not Global Pension Plan.
I’m still not able to find ANY reverse pension plan that has worked.
Please point me to anything that disagrees with this ZERO rate of final payout on ANY plan.
This type of stuff is what gives real online businesses and opportunities a bad name!
hi, Im from Slovenia. We still waiting for payment.
todos estamos ala espera de saber SI REALMENTE ESTO ES REAL O NO……….SI NO ES REAL, PUES NUESTRA VIDA SEGUIRA ADELANTE , NI ODOS…….SI ES REAL…….PUES QUE DIOS NOS BENDIGA Y HAGAMOS DEL MUNDO UN MUNDO MEJOR……DIOS LES PRETEJA Y BENDIGA POR SIEMPRE….
ESPERAMOS QUE TODO ESTO SEA REALIDAD YO TENGO MUCHA FE QUE ESTO SE VA A MATERIALIZAR Y QUE TENGAMOS BUENAS NOTICIAS DESPUES DEL 30 DE JUNIO Y QUE PODAMOS DISFRUTAR DE LO QUE TANTO HEMOS ESPERADO QUE DIOS LES BENDIGA A TODOS
for those of us in the world that still speak English what does the last 2 emails say
Hi all!
Who has news of GPP?
Who received a card of GPP?
Please write…Thx!