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FINANCE News from PCC 54HEALTH Winter Wellness.
Expert financial advice
By Andy Oliver, CEO of Private Client Consultancy
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Tracing your lost Pensions
How are pensions lost? It is estimated that there is currently around £19.4 billion lost in pension pots. This averages to around £13,000 per missing pension. In fact, nearly 1 in 5 people in the UK will lose track of at least one pension pot. People work for an average of 11 employers throughout their lifetimes. Because of this, it is often difficult to trace the pensions they acquired from previous jobs. This is especially true if those previous jobs were held years prior to the position they currently hold. Auto-enrolment for pension schemes has made the enrolment process much easier in many respects. However, this system has also complicated some areas. Employees who are eligible can choose to automatically enrol into the company’s pension scheme, meaning that many people often end up with multiple pension pots. Then, when they leave that job for a new one and continue to do this for some years, they are often left wondering what pensions they have, where they are, and how they can find them. The people who are most at risk of losing a pension are those who have worked for many different companies or have not updated their pension provider after moving house. Additionally, people who opted out of the State Earnings-Related Pension Scheme (SERPS) in either the 1980s or ‘90s likely have lost pensions. Losing track of old pensions is a common phenomenon, as it is very easy to do. While tracing them may be a hassle, it is still beneficial to do so. You may have a significant sum awaiting you. Thankfully, Private Client Consultancy can help you recover any old pensions you may have.
How can pensions be recovered?
First, you will need to find out if you have pensions from any past jobs. If you think that you may, you should contact your previous employer. This is sometimes difficult to do if you no longer have their contact information, so you may get in touch with our advisers to review your options. Next, your previous employer will need to know the dates of which you were employed and your national insurance number. Thus, it would be beneficial for you to start drafting up a timeline of your previous work experiences. The more information the better, so whatever you can savage from documents, letters, and payslips you have saved should be mentioned to your adviser. Organising your information and contacting previous employers is the first step, however it is not the last. At this point, you will not yet know how much the pension is worth, how it has performed over the years, or what options you will have at age 55. Only the pension provider has this information, and you will need to contact the company to obtain it. If you instead choose to find a lost pension with your national insurance number, then you can also do this by sending it to a past employer to obtain the details of the pension provider. Alternatively, you can contact HMRC to learn whether your SERPS contract ended. This method still requires you to provide personal details, but it is your national insurance number that grants entities access to your old contributions. If you do not know this number, it will be included on your payslips. In 1978, SERPS was created by the government to add to the State Pension. It was replaced in 2002 by the State Second Pension. During the ‘80s and ‘90s, millions of people opted out of SERPS in pursuit of placing their contributions into a personal pension instead. Their hope was that they would end up with a higher income for retirement if they went with a personal pension scheme rather than SERPS. If you were employed by a private company between the years 1987 and 2012, it would be worth checking if there is a missing SERPS pension that you can claim. So many underestimate the difference a missing pension could make to their retirement. Checking if you have a SERPS pension requires
contacting HMRC. If you do have a SERPS pension, you will need to then contact the provider in order to access the funds. Evidently, there is a lot of work that goes into tracing lost pensions. It can be difficult to ensure that you are asking the right questions and getting the correct information. Not having proper guidance makes for a more complicated process. Consulting with a qualified adviser is beneficial in many ways, namely in that it takes "Losing track the pressure off of you to contact all of these different authorities. When the ability to fully of old pensions enjoy your retirement rests so heavily in the hands of complex bureaucratic systems, it is is a common important to speak with a professional so you phenomenon, as it can be confident that you have the safety of their expertise to fall back on. is very easy to do. Next steps Lastly, tracking down your pensions is only the While tracing them beginning. The next step is assessing whether may be a hassle, it is you are getting a good deal out of your pension scheme. There are so many outdated schemes still beneficial to do out there, so it could greatly benefit you to consider other options for your investments. so. You may have You may also wish to combine your pensions into one pot, as this makes them easier to both a significant sum keep track of and manage. awaiting you". If you are interested in a personalized pension plan that will be tailored your specific needs, then a more flexible and modern option may be a better fit for you. Our advisers will not only help you track down these lost pensions, but they will also help you make the best decisions with your pensions once they have been found. tracking down your pensions is only the beginning. The next step is assessing whether you are getting a good deal out of your pension scheme. There are so many outdated schemes out there, so it could greatly benefit you to consider other options for your investments. It is possible for your unclaimed pensions to be lost indefinitely. Being proactive now could save you from not having the retirement you are entitled to. To schedule a consultation with one of our advisers, email us at info@pccwealth.com.
Sara de Melo Castanheira is an expert in Occupational Therapy and Quality of Life. She is also the Technical Director of SER Igual, an Association of special rehabilitation services in Tavira
TEENAGERHOOD AND THE DEVELOPING BRAIN
Afew weeks ago, a mum of two teenagers asked me what she could do to help her teenage daughters. She felt unable to give them what they needed and most of the time she struggled to understand what they needed. “My older daughter thinks that what she sees on Instagram and TikTok Apps are reality, even when I tell her about the existence of filters and what influencers do and why they act like they do. But my daughter doesn’t listen me!” “My other daughter goes to parties and in each party there's always one colleague in an advanced alcoholic state. They drink till they fall over. Why don't they listen? Why do they have this kind of irresponsible behaviour!” “My oldest one thinks that sleeping is a waste of time! How can I show her that sleeping is one of the most important things she can do in order to have a good development and to be able to learn?” Teenagerhood is a period of great changes, physically, cognitively, behavioural and of personal and cultural values. These changes are experienced in a particular manner by the teenagers, in their gender and age. Knowledge about neuroscience can help us, as parents, to understand how the brain of a teenager works. Vulnerability, intense emotions, reactivity, emotional hypersensitivity, search for new emotions, and an incessant search for identity – these are some of the experiences that make a teenager's life. But after all, what makes all these emotional waves occur? Teenagehood is of an extreme importance for the neuronal organisation of the brain and in the changes that drastically affect our identity formation. There are two parts of the brain that deserve a careful look and a special study – the Limbic System and the Prefrontal cortex. The Limbic System is the most important structure for memory and is situated near a structure dedicated to help to produce emotions. This anatomic relation guarantees that the experiences with a lot of emotion are more easily remembered than the neutral events. The Prefrontal cortex is the last brain layer to mature. Is the responsible area for critical thinking, decision making, selfcontrol, planning, attention, organisation, emotional control, risks and urges, selfmonitoriation, empathy and problem solving. In teenagerhood, as the brain (prefrontal cortex) is still in development, teenagers make use of the Amygdala to make decisions and to solve problems. It’s good to remember that Amygdala is associated with emotions, urges, aggressiveness and instinct behaviour. To complete this mess, we know that the teenage brain contains lower levels of these two neurotransmitters – serotonin and dopamine, that promote pleasure and well-being sensations. This can generate a higher level of aggressiveness and with higher levels of testosterone, contributing to anger explosions and urges such behaviour. The frontal lobes of the brain, in turn, are not fully developed in these years, which can limit the cerebral function in problem solving, emotional regulation and focus. The Cortex brain has its maturation process all over the childhood development, passing through
teenagerhood and going till 20-22 years old of a person. For the mums and dads that are experiencing teenagerhood at home with your sons and “My older daughter daughters I just can say that their brain is still thinks that what developing. They need you to be present in their life and to help them to think. They seem she sees on very independent and autonomous but they still need their parents to guide them, like
Instagram and the talking cricket from Pinocchio´s story.
TikTok Apps are Adopt an active listening, create an emphatic relation, be present and interested in their reality, even when problems and worries. Make a predictable
I tell her about routine and make sure they have a good sleep routine. the existence of Teenagehood is the life stage where some of the mental disorders start to occur and you filters and what need to be alert for an early intervention. influencers do and Please feel at ease to make an appointment with our Clinical Psychologist in order to guide why they act like you with your worries about your teenagers or they do. But my to help your child for a better understanding of their life and to facilitate their identity creation. daughter doesn’t As we are a non-profit association for handicap people, we have the mission to listen to me!” achieve more social projects, so we can have a more inclusive community. If you want to sponsor a social project or become a social investor, please come along and visit Associação SER Igual in Tavira. We will be glad to talk about our ideas and projects. If you are interested in our work, please visit us on our FB page (@SerIgualPT) and IG (@igual.ser) or make an appointment to geral@seronline.pt or by phone 918180020. Thanks once more for your attention. Stay safe and stay tuned for next article.
WINTER WELLNESS
Christmas is coming The goose is getting fat Please put a penny in the old man’s hat If you haven’t got a penny, a halfpenny will do If you haven’t got a halfpenny, may God bless you!
My childhood was full of these old English ditties which showed the social history of the ages. Using goose fat was commonplace in cooking, rearing your own goose was not unusual, inflation was unheard of, poverty was present in society and stress was plentiful. Fast forward to Christmas 2021 and who knows what’s in store. Chances are that the only similar factor is stress.
Did you know that stress kills?
Stress can be positive. We need an element of physical and emotional stress to motivate and get us out of bed each morning. However, when the level of stress experienced is overwhelming and therefore potentially unmanageable, your health will take a nosedive. Guaranteed. How you manage your stress level is an interesting conversation for many. From taking a long soak in a bath filled with essential oils and Epsom Salts to detox and de-stress you, to taking a gentle jog around your local park. From painting to craft making, from reading to playing music. These are all ways to reboot your system. Find a way to de-stress yourself that fits who you are. Who you are depends upon your behavioural style and your natural behaviour characteristics. For example, using the DISC system of profiling, a high D behaviour style will de-stress by going for a long run and/ or having a sports massage. An ‘I’ type will party. High ‘S’ types may curl up with a book and high ‘C’ types often withdraw to recharge and de-stress. DISC Behavioural Profiling is an integral part of my Perfect 10 VIP Health Mentoring Programme. When my clients see the graphs and charts within their personal DISC report and understand how their behaviour is causing their health challenges, they are often astounded. Some even say that their life now makes sense after all these years! Not only does your behaviour style affect your health, it also has a significant effect upon relationships within your personal life and in the workplace. When opposing behaviour styles get together, without a deeper understanding of each other’s style, stress levels can go through the roof. Christmas is a classic time for family and friends with different behavioural styles to get together with potential conflicts and misunderstandings created. When stress is high, so is your blood pressure; your body is under attack; your cells pick up negative energy which leads to inflammation and disease. Not a happy situation. However you are spending this Christmas, please keep your stress levels under review and don’t become a statistic of the wrong kind.
Elaine Godley MBA, O.A. Dip (Psych) Elaine lives in the Algarve. Her clients enjoy better health, greater mobility and reduced pain. Through ‘at home’ laboratory blood tests, hair mineral tissue analysis, online metabolic testing and behaviour analysis, Elaine guides individuals on how to improve their health and wellbeing using nutrition and lifestyle adjustments to reverse or avoid illness and disease.
