After a short delay Global Pension Plan have published a new update. Now that their site is back online it seems that things are getting back to some form of normality.

It's been confirmed that the necessary 100,000 member requirement has been met as verified documents for that number have now been received by the Admin. The next stage will be down to the Insurance Company as they undertake the next stage of preparing for payout.

The Global Pension Plan admin advises that this next stage will take between 2 and 3 months, however any time estimate should be treated with some caution as very few estimates turn out to be close to the mark so my suggestion would be to allow a minimum of 2 months, then stay vigilant and responsive.

The update also mentions that are an additional 42,000 policies available and the insurance company would like to sell them as soon as possible. If I understand this correctly the additional policies are only available to existing clients and cost €10 each.

Personally, I'm not clear as to why these additional policies are still available so wouldn't recommend buying any until there is a clearer explanation from Global Pension Plan as to their status.

As ever we shouldn't read too much into this update and need to remain open minded about the possibility of a final payout. But at least it does seem to be moving in the right direction.