36 Pensions - Explaining all THAT Jargon

07/10/22 • 48 min

Not going to lie, jargon does our heads in as much as it does yours. We set ourselves a challenge, could we explain what the bizarre words of pensions means in one sentence.

To stop us from falling asleep we made it a bit competitive. Final scores:
Michelle 996
Catherine 40 + a pie
Julie 12
And be sure to listen to the end for a new regular feature – our favourite app of the week. Catherine kicks off with Tulipshare

2.56 SIPP
4.04 Lifetime Allowance
5.22 Annual Allowance & MPAA
6.39 UFPLS
7.47 Money Purchase / DC
8.54 Defined benefit (DB), final salary, CARE
11.06 Salary sacrifice
12.17 Flexible Access Drawdown (FAD)
13,16 Carry forward
14.18 AVC & FSAVC
15.23 CETV
17.21 Origo
18.28 GAR
19.57 Crystallised
21.23 BCE
22.53 GMP
24.14 PCLS
25.21 Protected Tax Free Cash
26.48 Revaluation & Indexation
28.13 Early & late retirement factors
29.31 Net & Gross
31.38 Triviality
33.24 MVR / MVA
37.26 Tapered annual allowance
38.38 Commutation
A comprehensive A - Z can be found here
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YOUR HOSTS:Catherine Thomas-Humphreys is an Award Wining Financial Coach, Qualified Financial Adviser and Family Will Writer. Catherine believes money is a force for good and when in the hands of good people can be used to do great things. She loves working with purpose-led parents who are ready to change their money habits & beliefs to achieve financial success for themselves and their family.

The Finfluencer|Finfluence|Instagram

Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.

Ebb & Flow Financial Coaching|Bree Wealth & Tax|Instagram

Michelle Lambell started her career in financial services as a Stockbroker in 1999 undertaking both advisory and discretionary investment management. Following a career break where she spent time being a mum and running an arts and crafts business, Michelle returned to financial services in 2013 undertaking further study.
Today she is a Chartered Financial Planner, specialising in retirement planning advice, pensions and investments and a Certified Financial Coach. Michelle has a passion for providing financial advice, guidance and education to everyone, regardless of their gender, age or current circumstances.
Website | Instagram

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We genuinely love hearing your questions and feedback.
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Not going to lie, jargon does our heads in as much as it does yours. We set ourselves a challenge, could we explain what the bizarre words of pensions means in one sentence.

The Finfluencer|Finfluence|Instagram

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.

Ebb & Flow Financial Coaching|Bree Wealth & Tax|Instagram

Support the show

Previous Episode

35 Financial and Economic Abuse with Michelle Hoskin

Today we are joined by the power house that is Michelle Hoskin. 1 in 5 people in the UK have experienced some form of financial or economic abuse. Which means that someone you know has experienced or is experiencing this.

In the next 50 minutes we are going cover

What is economic abuse?
How do we recognise it?
And what can we do about it?

7.29 What is Economic abuse - restricting, exploiting or sabotaging another person's economic resources
13.17 Boiling the frog - coercive control and how these things might begin - being coerced to stop working, having to explain purchases
20.34 It's not always quite what you think, Michelle's story about 3 siblings
26.03 What if it's one of the men in your life
33.19 How you can support someone
39.40 What can I do if it's me

Guest Expert Michelle Hoskin
Known for her endless enthusiasm and energy, infectious personality and unique outlook on what she describes as a ‘magical profession’. With more than 20 years’ experience working alongside some of the world’s most successful financial services organisations, Michelle is an internationally recognised author, speaker, coach and leading expert in the design and implementation of international framework-based best practice standards.
Connect with Michelle on Twitter or Facebook and Standards International
Resources:
Toolkit
Surviving Economic Abuse
Hourglass - use the drop down to select other parts of the UK
UK Finance - bank & building society of code of practice
YOUR HOSTS:Catherine Thomas-Humphreys is an Award Wining Financial Coach, Qualified Financial Adviser and Family Will Writer. Catherine believes money is a force for good and when in the hands of good people can be used to do great things. She loves working with purpose-led parents who are ready to change their money habits & beliefs to achieve financial success for themselves and their family.

The Finfluencer|Finfluence|Instagram

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.

Ebb & Flow Financial Coaching|Bree Wealth & Tax|Instagram

Support the show

Next Episode

37. Summer Money Survival Guide

This week: how to keep children entertained for the summer holidays on a budget.

Some of us mums have a predisposition to feel guilty. Be that for not spending enough time or money with our children. We'd like you to give yourself a pass for the summer.

Children don’t need to be doing things all the time
A lot of them like a bit of down time
Chat with other parents to tag team
Independence check – they get older without us realising & can do a lot more themselves

Catherine will be sharing her Magical Mystery Tour tactic she used when her children were younger to manage costs. Julie shares the strategies her clients who are widowed with young families use to make the most of the time.

5.32 You need a plan!
7.26 The Magical Mystery Tour box
11.29 How to build a support network
15.38 Affordable options
21.47 Start the summer with a project
23.30 Deals & freebies
25.41 How to make the free things feel special
32.37 How to handle conversations if there isn’t much money
RESOURECS:
Army Cadets
Let’s Go Summer 2022
Ted talks for kids
Easy science experiments
STEM for kids
Meerkat Movies
Itison
Groupon
Kids eat free
Geocaching
Scavenger Hunt

YOUR HOSTS:Catherine Thomas-Humphreys is an Award Wining Financial Coach, Qualified Financial Adviser and Family Will Writer. Catherine believes money is a force for good and when in the hands of good people can be used to do great things. She loves working with purpose-led parents who are ready to change their money habits & beliefs to achieve financial success for themselves and their family.

The Finfluencer|Finfluence|Instagram

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.

Ebb & Flow Financial Coaching|Bree Wealth & Tax|Instagram

Support the show

Women & Money Cafe - 36 Pensions - Explaining all THAT Jargon

Transcript

WMC 36 Pension Jargon

Julie: [00:00:00] Welcome to the women and money cafe, the weekly money podcast for women by women exploring the practical and emotional side of money. The cafe isn't just a podcast. It's a community for women to feel financially empowered and have. Fun along the way. So come and join us in our Facebook group. Your hosts are Julie Flynn and Catherine Thomas Humphreys, me.

I'm an independent financial advisor and certified financial coach. And