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Are you saving enough?
Find out how much your lifestyle could cost when you retire and how to work out if your savings are on track.
Try it nowOpen the door to money talk, this Talk Money Week
It’s Talk Money Week (TMW), an opportunity to have more open conversations about money.
Running 4-8 November, the annual campaign - launched by the Money and Pensions Service (MaPS) - once again reminds us of the importance of incorporating money talk into our daily lives.
Many find it difficult to talk money
Research tells us talking about money is often a taboo subject.
According to MIND, ‘over 1.5 million people are experiencing both problem debt and mental health problems’ which suggests an unsurprising link: that money worries can add to, if not create, poor mental health.
When we feel like we don’t have enough money, and we don’t feel like we can discuss it openly, it can make daily life stressful and difficult. Normalising discussions around money can help us to process money worries, help us come up with
solutions, and make us feel comforted that we’re not alone.
Break the stigma with Talk Money Week
Talk Money Week is all about sparking money conversations in workplaces, family and friendship groups, schools and wider communities. From pocket money all the way to pensions, it’s designed to get people of all ages comfortable talking about money
and to ‘help you get advice from experts if needed.’
Recent data tells us children and young people use money in their daily lives from as early as age 7. MaPS’ research (2023) found that 70% of children aged 7-17 receive regular pocket money, yet just over half of parents/carers say they feel confident
talking to their children about money.
It also shows that 52% of children buy things online without parental supervision at least some of the time (MaPS, 2024).
These statistics suggest a need to bridge the gap.
Normalising money talk can have huge benefits
Getting comfortable talking about money can help young people make good decisions when it comes to money, and build good habits for the future.
MaPS say that talking about money can:
- help people feel supported, and less stressed
- help us build stronger personal relationships
- increase financial confidence and resilience, and
- make people feel better equipped to deal with money problems if and when they arise
So why not start today?
How you can get involved
Chat to your family about your Amey pension
You can use Talk Money Week as an opportunity to let your family know about important pension topics, such as:
- Your Expression of Wish and death benefits - a lump sum of money could be paid to those who matter to you if you die before claiming your pension. By completing an Expression of Wish form, you can say who you'd like the money to go to, such as a person or a charity you care about.
- Power of Attorney - a Lasting Power of Attorney (LPA) is a legal document that lets you choose one or more people (known as ‘attorneys’) to help you make decisions, or to make decisions on your behalf.
This can be helpful if you have an accident or an illness and are unable to make your own decisions. You must be 18 or over and have mental capacity (the ability to make your own decisions) when you make your LPA.
You can find more information by visiting Gov.uk/power-of-attorney.
Find out if you have a lost pension and tell your friends and family to do the same
According to Pensions Age, there’s an estimated £31.1billion in lost pensions in the UK. Tracing a lost pension could boost your pension savings, and make you feel more financially secure for your future.
If you think you might have a lost pension, you can download this treasure map provided by National Pension Tracing Day
The treasure map includes helpful tips such as thinking about how many times you’ve moved over the course of your working life, and whether or not you updated your address with pension providers.
For more information and other valuable resources on tracing lost pensions, visit nationalpensiontracingday.co.uk.
Matt Riley
Manager
Matt joined Zedra Governance Limited (formerly PTL) in January 2008 having previously worked for Mercer Limited, Hazell Carr and Prudential.
As a Manager for the company's Birmingham Office, Matt’s responsibilities include working closely with Client Directors and individually liaising with Employers, Trustees and Members to ensure the smooth running of their pension schemes. Matt’s current portfolio of clients covers ongoing, paid-up and winding-up schemes. In addition, Matt has experience of schemes that have transferred or are in the process of transferring to the Pension Protection Fund and Financial Assistance Scheme. Matt also works closely with clients in relation to risk registers and internal controls.
Matt particularly enjoys resolving issues in a fair and pragmatic way ensuring that the right result is reached for the member or employer.
Sam Burden
Client Director
Sam Burden joined Zedra Governance (formerly PTL) in 2022. He is an Accredited Professional Pension Trustee (AMAPPT) and an Associate of the Pensions Management Institute (APMI)
Sam has more than 25 years’ experience in the pensions industry gained with WTW, KPMG, and Standard Life working with a wide range of pension schemes and sponsoring employers. His trustee appointments include DB, DC and hybrid pension schemes and he has experience of handling a broad range of projects relating to the management of pension schemes.
Beyond his pensions experience Sam is a former Birmingham City Councillor where he chaired the audit committee and a current charity trustee.
Payam Kazemian
Client Director
Payam Kazemian joined Zedra Governance Limited (formerly PTL Governance Limited) in 2021. He is an Accredited Professional Pension Trustee (AMAPPT) and an Associate of the Pensions Management Institute (APMI).
Payam has more than 17 years of experience in the pensions industry. Through his current role as a professional trustee, as well as previously as a pension’s de-risking and investment structuring expert at financial institutions including Goldman Sachs and Deutsche Bank, he has had overall responsibility for creating investment, de-risking, journey planning, and governance solutions for a wide range of UK DB pension schemes. He currently holds a number of board positions (as Chair of Trustees) and sole trustee in his professional trustee capacity. Payam has been involved with a number of pensions projects including pensions buy-in, pensions buy-out, GMP equalisation, investment strategy reviews, and dialogue with the pensions regulator. Payam looks to create and believes in a collaborative relationship between the sponsor, the trustee, and all other parties involved as this results in best member outcomes and helps deliver pragmatic solutions for scheme. Aside from his pensions experience, Payam holds a Ph.D. in Materials Science from the University of Cambridge.
