Comments on: Reverse Pension Plans – Myth or Reality?

By: Owen Platt

Owen Platt — Wed, 05 Dec 2007 16:11:45 +0000

There is a growing body of evidence that many of these RPPs are run by the same people in a network that goes from Eastern Europe to Central America.
There is no doubt that they are totally fraudulent and may well be connected to organised crime.

By: Lee Thomas

Lee Thomas — Tue, 13 Nov 2007 06:04:21 +0000

As cliche as it may be, comparing these programs to the lottery is like comparing apples to oranges. For all intent and purposes, the lottery is gambling. Unlike these RPP programs, it is regulated, you know who is running it and you know the odds. In the U.S., the lottery is set up for a purpose; to raise money that goes back into the services of the public, like education and highways.

If so many participants think of RPPs as a game, then words such as pensions, trusts, investors, bankers, venture partners and ROIs should not be mentioned in recruiting and soliciting for members. Is it an investment or a game?

If it is an investment, then doing due diligence and asking tough questions by smart investors does not make them “haters and whiners” or being negative. Good investors will tell you that 90% of making money and building wealth is the preservation of capital. Throwing away money to scams is not preserving capital.

When you see these RPPs being promoted on forums and websites that contains hundreds if not thousands of “hyip” types of “investments” in which 99% of them end up in the closed or scam sections, what do you expect skeptical people think?

Good luck to those involved.

BTW.. I do not play the lotto, it’s what they call a “tax on the poor”.

By: Karen Davis

Karen Davis — Mon, 12 Nov 2007 19:52:21 +0000

I myself see it being no difference in playing the lottery. GPP cost me $43.00 and I have shelled out 100’s of dollars for the lottery and have won maybe $7.00. Ignorance breeds fear and when I hear anyone putting down a program before it can manifest…It is just fear of the unknown. In my eyes the lottery commission scam people every day but it is done legally….You spend $40.00 today in lottery tickets, they draw the number tonight and your $40.00 is gone. One thing about
GPP, I feel that if it is a scam, they have earned every penny that they got. I hope that all of the companies pay off so that I can laugh at all of you haters and whiners that are probably broke as it is. When was the last time you won any money worth something through the lottery?
If you did you would probably say that this is too good to be true. Negative people always get negative results.

By: D. Mitchell

D. Mitchell — Fri, 05 Oct 2007 08:49:24 +0000

Although most RPPs may turn out to be scams I can say that I was a member of International-Pension which found that they were unable to continue (I don’t know the reason). They made a refund to members (less a small %age) which I received. Scammers usually don’t do that so I have to assume that they were genuine. Unfortunately we can’t differentiate the good from the bad.

I did read somewhere that the reason for people wanting to finance schemes like RPPs was that there were big tax savings in their favour over the long period. If this is true then the concept starts to make sense. Again I don’t understand these financial things but perhaps someone else may know something about it.