Is this a good deal? or a complete scam ?

Splog

Splog

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Steve
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If anyone would like to give me £20,000 (twenty thousand) I'll give them £1000 every year for the next 30 years or so :D Does that sound like a good deal to you?

More details to follow and yes it's a serious question :eek:
 
I'm up for a bit of that. When can I expect the £20K in my account?
 
Sounds like a sodding awful deal to me - put it in the bank and 5% interest would see you back £1k/year plus you would still have the £20k - effects of the compound interest over 30 years would mean you would end up with £90k or so.

So if someone does like the idea of the deal, can you give me £20k too please :D
 
I'll add a clue as to the identity of the scammers.. Private / company pension schemes :razz:

Steve
 
Splog said:
I'll add a clue as to the identity of the scammers.. Private / company pension schemes :razz:

Steve
Click to expand...

Aye - couldn't agree more mate! The only reason I have a pension is because it was part of the job package. Waste of bloody money if you ask me. Whoever thought of starting pensions companies was a sodding genius.
 
The only thing to be said for them is that it does at least mean that people have 'saved' the £20K in the first place. Terrible deal with enforced annuity purchase though.

Is that rate index linked? Any insurance/death/illness benefit built in ? Or just salesman's commission?
 
........... and if you don't live 30 years?

Or, as happened to too many of us the Company do some creative book-keeping so there is NO pension for those that have paid into it for years? This was down to Gordon Brown allowing companies to have pension "holidays" where they apparently did not have to pay in the money they collected but could use it to shore up their failures before they went into receivership.
 
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