Countdown for Global Pension Plan…

It’s been some time since I mentioned Global Pension Plan so the recent update is very timely. If you’ve been keeping an eye on this program you’ll know that membership has breached the 50,000 mark which is half way to the target needed for the plan to be fully implemented.

Global Pension Plan is also known as a reverse pension plan with the idea that members pay a small fee (€30) to join. In effect a Trust Partner is mortgaging the value of future returns. So by doing this each member who is 27 or under will receive €110,000 and those over 28 and under 67 will receive €55,000 a few months after the 100,000 target is reached. By doing this the Trust Partner is then able to collect the full value of each policy (€200,000) as each member reaches the age of 67.

Whilst the program has been in existence for some time it is only now that the Trust Partner has put a deadline on the time to reach 100,000. This date is 31 August 2007 so there are 4 months to go. Regular projections have been made that show the number being reached in September without a deadline being announced so it shouldn’t be too much of a challenge to achieve the new cut-off date.

What this means is that if you have been waiting on the sidelines before making a decision to join Global Pension Plan then now is the time to act. Clearly the longer you leave it the greater risk that you will miss out and for a one-off payment of €30 it is great value in anyone’s language.

What this deadline also does is define when you will be eligible for the benefits. If your 67th birthday is after October 2007 then you will be able to benefit.

There is also a referral plan that pays €2,000 per paying member so even if you are 67 before October you can still make a reasonable sum of money by signing-up new members.

Don’t put off the decision too much longer as time is mow of the essence.

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