# Pensions



## glenmon (Sep 7, 2011)

Hi ive just moved here from england to be with my girlfriend,anyway i was approached in a bar by an old English guy called Rodney Pinchess? he was very drunk and slurring his words,he was claiming that he could give me 100% guarentee and 12% pr annum,also trying to sell me a will?
Im pretty sure this guy is a fake as i worked for Barclays for many years and this type of thing is not always true.
I would ask everybody be aware,
has anybody else met this man?
cheers glen


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## duncbUK (Apr 19, 2011)

Nope, I have not met him, however you could send me a cheque and I could give you a 110% guarantee and a return of 20% per annum and write your will for free!!


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## Bopc1996 (May 16, 2011)

I will give you 120% guarantee plus two free wills.


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## KNJ (Jun 30, 2011)

In Indonesia the IDR is increasing in value against all major currencies, and csah deposit in a bank, guaranteed by the government up to 100 USD ( equivalent ) you can get up to 10.25% - no free will unfortunately


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## glenmon (Sep 7, 2011)

*ha ha*



duncbUK said:


> Nope, I have not met him, however you could send me a cheque and I could give you a 110% guarantee and a return of 20% per annum and write your will for free!!


This man is trying to rob money off people on a daily basis this is no joke i have sent my report to police today will update when i have further news


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## duncbUK (Apr 19, 2011)

Well, I hope they catch him. I assumed your question was not serious, given it was about a drunk offering you financial advice in a bar in pattaya!! such a scenario should ring alarm bells for anyone.

Good point about Indonesia, you can get similar rates for fixed deposits in Vietnam and India. My advice to anyone would be DO not buy any such financial services in the relatively unregulated Asian markets. You can get better returns investing in the London stock exchange with the likes of Barclays (less than half the value it was a year ago), or British airways or any of the builders. It all depends on your attitude to risk


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## KNJ (Jun 30, 2011)

duncbUK said:


> Good point about Indonesia, you can get similar rates for fixed deposits in Vietnam and India. My advice to anyone would be DO not buy any such financial services in the relatively unregulated Asian markets. You can get better returns investing in the London stock exchange with the likes of Barclays (less than half the value it was a year ago), or British airways or any of the builders. It all depends on your attitude to risk


Stock markets globally down, London or otherwise, interest rates in banks pitiful.
As said 10% + guaranteed by BOI up to 10 000 000 IDR. Its currecy has been on the rise against most others.
Vietnam currency has drifted consistently down, and Indian banks I do not believe you can get that rate at  least not guaranteed.
The highest risk with bank in Indonesia is that teh exchange rate may fall, but at the moment it is only going one way and that is strengthening.
For anyone on a pension surely that is a time of life to not gamble on stock markets, certainly not more than 10-20% of their wealth and then only if that 20% is truely play money


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## duncbUK (Apr 19, 2011)

Axis bank of India has 1 year to no less than 14months fixed deposits for senior citizens the rate is 10.25%, for between 5 and 10 years fixed deposits the rate is 10%

I agree with your comment on Vietnam but am not aware of the IDR strengths and weaknesess

I think the time to buy shares is when the markets are down and not up- off course you shouldn't invest more than you can afford to lose.

Inflation in India is 8% and Indonesia 4.8%, so do your homework carefully before depositing money overseas, especially given the pound is around 15% below its levels a few years ago. Maybe just maybe the pound will recover, so you will be buying your Indian or Indonesean currency when they are strong (and your pound is weak) and could be selling them when they are weak (and the pound is strong)- not a good idea. Everything has a level of risk associated with it




KNJ said:


> Stock markets globally down, London or otherwise, interest rates in banks pitiful.
> As said 10% + guaranteed by BOI up to 10 000 000 IDR. Its currecy has been on the rise against most others.
> Vietnam currency has drifted consistently down, and Indian banks I do not believe you can get that rate at least not guaranteed.
> The highest risk with bank in Indonesia is that teh exchange rate may fall, but at the moment it is only going one way and that is strengthening.
> For anyone on a pension surely that is a time of life to not gamble on stock markets, certainly not more than 10-20% of their wealth and then only if that 20% is truely play money


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## KNJ (Jun 30, 2011)

duncbUK said:


> Axis bank of India has 1 year to no less than 14months fixed deposits for senior citizens the rate is 10.25%, for between 5 and 10 years fixed deposits the rate is 10%
> 
> I agree with your comment on Vietnam but am not aware of the IDR strengths and weaknesess
> 
> ...


Was not aware of that Indian Rate, do you have a link you can post.
I quite fancy the India rupee to remain quite stable and could be tempted to put in a 1, 2 & 3 year against that.
Are they paying interest monthly or annual. 
I have lost site of India recently, my mistake. Good POST


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## duncbUK (Apr 19, 2011)

Fixed Deposit Interest Rates India | Savings Account Deposit Interest Rates - Axis Bank

You do need a PAN card to get these rates unless you are an Indian (a tax card which an accountant can get you for the cost of about £10)
The interest is compounded monthly but paid annualy and can be paid into your account or re-invested and added to your fixed deposit.

I am lucky I opened mine when it was 85 to the pound, its now more like 74 to the pound, so as i said there is a big risk with changing weak pounds for other strong currencies


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## KNJ (Jun 30, 2011)

duncbUK said:


> Fixed Deposit Interest Rates India | Savings Account Deposit Interest Rates - Axis Bank
> 
> You do need a PAN card to get these rates unless you are an Indian (a tax card which an accountant can get you for the cost of about £10)
> The interest is compounded monthly but paid annualy and can be paid into your account or re-invested and added to your fixed deposit.
> ...


Thanks for that, what tax rate do they apply?

Also my experience sending money out of India was that is ptroblematic and high transfer fee, how are AXIS with this?


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