Sou Sou Investment ?

[RedVEVO]

^^

“We have not invested in a scheme. This is a sou-sou. If they are encouraging us not to invest in a scheme, I for one will not invest in a scheme.”


https://newsday.co.tt/2020/11/12/dss-in ... y-sou-sou/

[RedVEVO]

Banks are required to have a certain % at CBTT.

Also loans are insured.

These pyramid schemes depend on more suckers joining and eventually collapses.

I can’t figure out how this is a laundering operation

The money remains outside the system in cash...and the returns have to be funded.

This is low level fraud.

Fraud is fraud.

How so ?

Police have no evidence of fraud

Sou Sou pooling money like a Bank

Banks are like an XT computer now

Is it a crime to pool your money and get a loan ?

[teems1]

A loan you pay back the principal plus interest.

These pyramid schemes give huge returns on an "investment".

It's not even comparing apples to oranges. It's apples to rock.

Banks are required to have a certain % at CBTT.

Also loans are insured.

These pyramid schemes depend on more suckers joining and eventually collapses.

I can’t figure out how this is a laundering operation

The money remains outside the system in cash...and the returns have to be funded.

This is low level fraud.

Fraud is fraud.

How so ?

Police have no evidence of fraud

Sou Sou pooling money like a Bank

Banks are like an XT computer now

Is it a crime to pool your money and get a loan ?

[DTAC]

Don't any of these DSS fools realise that the money the police seize doesn't even cover the x8 return those 18,000 member expecting?

[RedVEVO]

" The Prime Minister, as head of the National Security Council, later labelled DSS a cancer, one that needed the intervention of police officers from Barbados and the UK. "

When will PEOPLE be arrested ?

No ? Is this a FREE loan

Then give the PEOPLE back their $$$$

https://newsday.co.tt/2020/11/08/protes ... rini-tuner

[Ted_v2]

i saw a youthman that said he got like just under 200k, buy a piece of land and thinggggg

hear the jones, it right next door to his family down south. O_O inherited much? i waiting to hear what taking place.

So you jello green ?

Or you happy he succeed

i sleeping comfortable tonight knowing i eh scam anyone and free to walk anywhere i choose without expecting a blade or a shot ringing off. i cant say the same for some of these characters.

[RedVEVO]

i saw a youthman that said he got like just under 200k, buy a piece of land and thinggggg

hear the jones, it right next door to his family down south. O_O inherited much? i waiting to hear what taking place.

So you jello green ?

Or you happy he succeed

i sleeping comfortable tonight knowing i eh scam anyone and free to walk anywhere i choose without expecting a blade or a shot ringing off. i cant say the same for some of these characters.

These characters like WHO ? Gov't ? TTPS ? Financial Freedom haters ?

And If there is a chance you will get shot maybe you should upgrade your room and board

Hyatt empty tonight

[RedVEVO]

^^

" .. Asked about this, Brooks said: “Why should they take up collection? We are investing and we are getting returns.."


... " Brooks said, “We are not prepared to lose our money to the Government of TT. If something happens and it crash, we would have accepted that, because we know it is a risk.

"But for the security minister to come and just seize our money, and blaming it on Kerron when they are fully aware that we put our money there, the investors think it is not fair, it is not right.... "

https://newsday.co.tt/2020/11/12/dss-su ... vestments/

[shake d livin wake d dead]

Ah going and make ah troll here

NIS is the biggest f%=$'*^ ponzi/pyramid scheme and nobody not studying that sheit. I sure it might not be around when I reach 60..

Ah gone again

[pugboy]

thats a fact bro,
multiple actuarial research reviews have stated it will run out of cash soon
why yuh think impsbert say the retirement age need to increase.

the old age pension is sucking the fund dry

Ah going and make ah troll here

NIS is the biggest f%=$'*^ ponzi/pyramid scheme and nobody not studying that sheit. I sure it might not be around when I reach 60..

Ah gone again

[88sins]

Ah going and make ah troll here

NIS is the biggest f%=$'*^ ponzi/pyramid scheme and nobody not studying that sheit. I sure it might not be around when I reach 60..

Ah gone again

It go be around, but the retirement age might be 70 by the then

NIS isn't really a ponzi scheme tho. with NIS if you only qualify for a lump sum settlement you get back what you put in, and only what you put in.
For those that qualify for a pension, you get a set amount every month for the rest of your life till you die. Now, depending on how long you live you might not recover all you put in, but if you live long enough you could get back plenty more than you put in, with the extras you get coming from the funds that would have been payable to those that died before collecting all they were due. So in a sense it's a gamble, but only in regards to how much you get back in comparison to what you put in.


as opposed to this madness, where you eh sure to get back anything at all

[hover11]

No sir just to correct you , if you qualify for a retirement lumpsum you get back THREE TIMES what you put in, the NIB is spending much more than what they are earning , it is a ponzi scheme because it depends on others to survive with no real product...the only thing with this ponzi scheme is it is backed by the government thus whenever it reaches its point of bankruptcy the government can simply offer a bailout such as the famous CLICO

Ah going and make ah troll here

NIS is the biggest f%=$'*^ ponzi/pyramid scheme and nobody not studying that sheit. I sure it might not be around when I reach 60..

Ah gone again

It go be around, but the retirement age might be 70 by the then

NIS isn't really a ponzi scheme tho. with NIS if you only qualify for a lump sum settlement you get back what you put in, and only what you put in.
For those that qualify for a pension, you get a set amount every month for the rest of your life till you die. Now, depending on how long you live you might not recover all you put in, but if you live long enough you could get back plenty more than you put in, with the extras you get coming from the funds that would have been payable to those that died before collecting all they were due. So in a sense it's a gamble, but only in regards to how much you get back in comparison to what you put in.


as opposed to this madness, where you eh sure to get back anything at all

[shake d livin wake d dead]

My NIS payment hovers around 900+ every month. I sure if I save that on my own Id feel more satisfied.

[Dizzy28]

My NIS payment hovers around 900+ every month. I sure if I save that on my own Id feel more satisfied.

The highest rate payable is 690.5 per month based on a 5 week month at the highest income bracket though

[Skanky]

Life is a pyramid scheme.

[hover11]

Clearly his employer robbing him

My NIS payment hovers around 900+ every month. I sure if I save that on my own Id feel more satisfied.

The highest rate payable is 690.5 per month based on a 5 week month at the highest income bracket though

[shake d livin wake d dead]

My NIS payment hovers around 900+ every month. I sure if I save that on my own Id feel more satisfied.

The highest rate payable is 690.5 per month based on a 5 week month at the highest income bracket though

Nope...my moms is around the same...different companies. When time to collect it would be more than the 3k..

My old man collecting 4600 per month for his NIS payment

[88sins]

No sir just to correct you , if you qualify for a retirement lumpsum you get back THREE TIMES what you put in, the NIB is spending much more than what they are earning ,

well I didn't think I had to spell this out, but ok
Just to correct YOU, they aren't spending more they they are earning. The 3X you mentioned they pay out as a lump sum is money that they have already received.
What that 3X you mentioned refers to is what you put in, and by you it is seen as the sum total of the 1/3 of the value of your due contributions payable that are deducted from your weekly/monthly salary, & 2/3 of the value of your due contributions that your employer pays for you on your behalf to your account. So if you paid from your salary towards NIS $1000 over your lifetime, you will get back $3000, which is all that was collected on your account, both from you & your employer on your behalf. This is one of the reasons why if you die before receiving your pension , your employer even tho they paid a 2/3 (which is the majority of the amount) to NIB on your behalf can't claim any part of it, simply because it isn't theirs, it belongs to the employee alone.

it is a ponzi scheme because it depends on others to survive with no real product...the only thing with this ponzi scheme is it is backed by the government thus whenever it reaches its point of bankruptcy the government can simply offer a bailout such as the famous CLICO

Now, where NIS sees a profit to themselves can come from any of several sources, but the top 3 sources are:

1-when the employer pays the contributions that are due late. In that case, interest & penalty becomes due & is paid (you don't pay this, your employer does)

2-When a substantial amount of people die before receiving the full value of their contributions over time & there are significantly fewer persons alive to collect within a given period thus the amount available for paying out pensions is more than the amount due and payable monthly. This isn't the norm and doesn't happen as often as some think, but it has happened before, and can potentially be seen as the largest source of their profits.

3-From interest & other returns earned by investments made using the incomes and excess revenues listed above.


So after I've explained this to you, please explain & show us the brand of logic/math/reasoning you utilized to come up with the idea that NIS is a gov't backed ponzi scheme. I'd love to see it.

[Dizzy28]

My NIS payment hovers around 900+ every month. I sure if I save that on my own Id feel more satisfied.

The highest rate payable is 690.5 per month based on a 5 week month at the highest income bracket though

Nope...my moms is around the same...different companies. When time to collect it would be more than the 3k..

My old man collecting 4600 per month for his NIS payment

Would be interesting to know how those contribution rates are calculated given this is the NIS contribution chart

[shake d livin wake d dead]

My NIS payment hovers around 900+ every month. I sure if I save that on my own Id feel more satisfied.

The highest rate payable is 690.5 per month based on a 5 week month at the highest income bracket though

Nope...my moms is around the same...different companies. When time to collect it would be more than the 3k..

My old man collecting 4600 per month for his NIS payment

Would be interesting to know how those contribution rates are calculated given this is the NIS contribution chart

Capture.JPG

Boy you stressing me now

Just to go into NIS is a headache

[88sins]

Would be interesting to know how those contribution rates are calculated given this is the NIS contribution chart

Capture.JPG

It have ways to pay more than the maximum so you can get back more later, it just depends on how you want to do it.
Simplest way, have two jobs with two employers at the same time., so you pay 2 sets of contributions, one on each source of income.

[Dizzy28]

Would be interesting to know how those contribution rates are calculated given this is the NIS contribution chart

Capture.JPG

It have ways to pay more than the maximum so you can get back more later, it just depends on how you want to do it.
Simplest way, have two jobs with two employers at the same time., so you pay 2 sets of contributions, one on each source of income.

This sounds ratchety

[Cantmis]

https://newsday.co.tt/2020/11/12/dss-su ... gglsg-sdZo

[88sins]

Would be interesting to know how those contribution rates are calculated given this is the NIS contribution chart

Capture.JPG

It have ways to pay more than the maximum so you can get back more later, it just depends on how you want to do it.
Simplest way, have two jobs with two employers at the same time., so you pay 2 sets of contributions, one on each source of income.

This sounds ratchety

regardless of how it sounds, its factual & it happens quite often.
You pay according to the rate set for the salary bracket you fall in for each employer.
So if you making $1500/w by Company A (say you working from 8am-4pm, 3 days a week) they deduct $70.40 from your salary accordingly & they pay the 3/3 to NIS.
Now, say you have another job for 3 days in the week with Company B, same hrs, same salary, different company. By law, they have to make the same deductions and contributions as Company A. There is no way to opt out or get an exemption from it just because the worker has another job somewhere else & is already paying NIS there, because the contributions he pays from that job relate solely to that salary he earns there & those contributions have absolutely nothing to do with Company B.

Remember, it's payable on your earnings, all employers are legally obligated to deduct it from your salary and forward all 3/3's, & there's no limitations placed on how many jobs you can have at a time.

[Dizzy28]

Would be interesting to know how those contribution rates are calculated given this is the NIS contribution chart

Capture.JPG

It have ways to pay more than the maximum so you can get back more later, it just depends on how you want to do it.
Simplest way, have two jobs with two employers at the same time., so you pay 2 sets of contributions, one on each source of income.

This sounds ratchety

regardless of how it sounds, its factual & it happens quite often.
You pay according to the rate set for the salary bracket you fall in for each employer.
So if you making $1500/w by Company A (say you working from 8am-4pm, 3 days a week) they deduct $70.40 from your salary accordingly & they pay the 3/3 to NIS.
Now, say you have another job for 3 days in the week with Company B, same hrs, same salary, different company. By law, they have to make the same deductions and contributions as Company A. There is no way to opt out or get an exemption from it just because the worker has another job somewhere else & is already paying NIS there, because the contributions he pays from that job relate solely to that salary he earns there & those contributions have absolutely nothing to do with Company B.

Remember, it's payable on your earnings, all employers are legally obligated to deduct it from your salary and forward all 3/3's, & there's no limitations placed on how many jobs you can have at a time.

The pension tops out at $4,079 ofr those in the highest bracket.
So you are saying you can receive more than this?

I understand making payments from two sources but if both sources exceed the max monthly contribution would NIS not take only the max monthly and similarly pay out the max monthly whether as one or two pensions?

[Dave]

NIS is made up of 1/3 paid by you and 2/3 paid by your employer.
So highest rate is 138.1x4 paid by yourself and 138.1x2x4 paid by the employer on the 4 week basis.

[88sins]

Nope.
What will happen in that instance is, you will get back one as a lumpsum payment (usually the smaller amount), and the other as a pension

[hover11]

Why yall giving information that you are unaware of, first of all the only way you can get a lumpsum is making below 750 contributions thats it...once you make 750 or more you WILL receive a pension, what the person asked is if they will receive more than 4079 , sir that is possible however your average contributions throughout your working life must be high such as class 16 the majority of your life, there are persons makin 4500 in NIS alone

Nope.
What will happen in that instance is, you will get back one as a lumpsum payment (usually the smaller amount), and the other as a pension

[shake d livin wake d dead]

Hover 11 said it all right there

[RedVEVO]

Why yall giving information that you are unaware of, first of all the only way you can get a lumpsum is making below 750 contributions thats it...once you make 750 or more you WILL receive a pension, what the person asked is if they will receive more than 4079 , sir that is possible however your average contributions throughout your working life must be high such as class 16 the majority of your life, there are persons makin 4500 in NIS alone

Nope.
What will happen in that instance is, you will get back one as a lumpsum payment (usually the smaller amount), and the other as a pension

So NOW you saying there is yet another Sou Sou that has been exposed ?

No wonder the beat up to extend the retirement age to 83.5 years ?

Now I understand the cancer statement which was a pre-existing situation .

BTW People who had a EPA from CLICO must be saying $#@%$. like a raging bull .