Apparently, one third of people are suffering from imposter syndrome at any given time, and 70% will experience it at some point.

My former career as a scientist wasn’t all bad, but one example stands out as a low point. I don’t know if it was the origin of my imposter syndrome. But it certainly didn’t help.

Halfway through my PhD, I was giving my first talk at an international conference. After I’d finished, the floor was opened up to questions.

The best advice I’ve received is to remember that no one is perfect

The first hand raised was that of an older researcher and it turned out he didn’t really have a question; he just wanted to tell me and the rest of the audience that he thought my work was pointless. Although I’m not opposed to criticism, I do think it needs to be constructive.

It was easy, as a scientist, to feel like you were never doing enough — surrounded by professors and fast-rising superstars, all experts in their field. I remember worrying I wasn’t good enough and I would be exposed as a fraud.

I’m grateful my experience since changing to the advice profession has been one of night and day.

Whenever I have interacted with people in the wider industry, whether in a random email, at a conference or picking their brain over a coffee, I have been met with overwhelmingly helpful, friendly responses.

I’ve got better at recognising when negative thoughts start gnawing away at me

Contrast the above presenting experience with my first at a financial planning conference. Everyone was very welcoming, no one was rude and I even had several people approach me afterwards just to let me know they had liked the talk.

At work, I am hugely fortunate to have a supportive boss and leadership team, and a friendly group of colleagues.

Nevertheless, despite all these positive experiences I have had since changing career, imposter syndrome never completely goes away. I may have a great day, or even a great week, at work, but that doesn’t stop doubts creeping in the following week.

While I haven’t found the secret to eliminating imposter syndrome, I have taken steps to reduce it.

I’ve realised I need to stop comparing myself to others. There will always be someone better than you, but everyone is on their own journey and has their own trials.

One third of people are suffering from imposter syndrome at any given time

I’ve also got better at recognising when negative thoughts start gnawing away at me, and remembering that other people also experience this.

Finally, I think the best advice I’ve received to overcome it is to remember that no one is perfect — neither myself, nor the grouchy guy who didn’t like my work all those years ago!

Ryan Sharpe is a paraplanner at Almond Financial

This article featured in the October 2024 edition of Money Marketing. 

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Though Ratan Tata remained a titan in India Inc, no movie was ever made on him. He has penned several books about leadership and innovation, but for those eager to read about the entrepreneur’s life, the tidbits only came from his rare interviews and biographies. 

But, the reports about his first authorised biography generated huge buzz after HarperCollins acquired the deal for a price of Rs 2 crore, a record in the history of non-fiction publishing in India.

Titled Ratan N. Tata: A Life, written by former senior bureaucrat and retired IAS officer Thomas Mathew, was tipped as the most anticipated release of the year 2023. It was said that the book contained anecdotes of Ratan Tata from interviewees who range from US Secretary of State Henry Kissinger to Karuna to the janitor at GT Hospital, Mumbai.

The fact that Mathew had access to the private papers, correspondence and photographs of Ratan Tata over the past decades made it a much-anticipated read.

Harper Collins had initially planned to release the book on November 2022, which was later pushed to March 30 2023, However, they had to further defer the release date to February 5. The release did not happen and the publisher has not yet given any update.

 Though Mathew had shared the manuscript with Ratan Tata in 2022, reports indicated that his close aides, including some of the family members, were still considering the material that would be published in the book. 

“Less than half a dozen people know the real reason behind the delay,” an executive with the publisher told The Mint in February. He added that a man of Ratan Tata’s stature needed time to process all that should be published. “Before you conclude on what parts are being objected to, please appreciate that this is an authorised book,” he said, adding that the author and the publisher have no objection to removing anything. 

The book is also said to have contained details of Tata’s personal life and unreported events that led to the ouster of former Tata Sons chairman Cyrus Mistry. 

THOUSANDS of dead pensioners have been sent winter fuel payment letters, leaving grieving families “horrified”.

The winter fuel payment was previously available to everyone aged 66 and above, the current State Pension age.

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But in July the Government announced the payment would become means-tested meaning only those on certain benefits are eligible.

This includes those on income support, tax credits, Universal Credit, and largely Pension Credit.

This means that around 10million pensioners will no longer get the cash, which can be worth up to £300.

The Department for Work and Pensions (DWP) is now writing to 13.5million pensioners to alert them to the changes and also to let them know if they might be eligible for pension credit.

However, it’s understood that some letters are being sent to pensioners who have died – despite grieving families having told the DWP about their deaths already.

This is what happened to one woman, who then took to X, formerly known as Twitter, to voice her frustration.

Frances Coppola, a writer and economist, reported that she had received a letter about changes to the winter fuel payment from the DWP intended for her partner.

But she had already informed the government that he had died on September 19.

Ms Coppola said the letter was advising her partner that he could apply for pension credit to be backdated by up to three months – making him eligible for the cash payment.

Writing on X she said: “My partner’s state pension has already been stopped. I did not understand why they were writing to him about WFP, since clearly they knew he was dead.”

Ms Coppola then complained to the DWP about the letter and was told that letters were being sent out to all “who had ever made a claim” for the WFP – alive or not.

“So thousands of bereaved spouses, partners and relatives are receiving these letters,” she Tweeted.

This was to ensure as many people as possible find out about the changes to WFP, Ms Coppola was told.

She added: “DWP is ignoring official notifications of death and literally spamming the relatives of deceased WFP claimants. I am horrified.”

According to the DWP a representative of the deceased can call or email the department to report the death of a customer.

Once that’s happened, the department will then work with them, following what’s called a death arrears process.

This involves contacting the representative to gather information or confirm details to make sure the department holds the correct information to make a death arrears payment.

A DWP spokesperson said: “We are looking into what happened in this case and apologise for any distress caused.

“More broadly we are committed to ensuring pensioners are aware of the changes to the winter fuel payment and the wider support that is available to them.

“We are issuing letters to around 13.5 million pensioners and our drive to boost take up of Pension Credit has seen a 152% increase in claims, with other pensioners are also benefiting from the Warm Homes Discount and our extension of the Household Support Fund to help with their energy bills.”

The Sun’s Winter Fuel S.O.S Campaign

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THE Sun’s Winter Fuel SOS Campaign is here to support households during these challenging times.

Due to government cutbacks, ten million pensioners are set to lose the £300 Winter Fuel Payment.

Since opening our phone lines to thousands of pensioners in October, we remain dedicated to providing tips and advice on how to stretch your finances further.

That’s why we have partnered with the poverty charity Turn2Us to launch a free benefits checker, helping you ensure that you are claiming all the benefits to which you are entitled.

Don’t miss our latest Sun Money coverage, which includes essential information on key deadlines, applying for support, and everything you need to know about Pension Credit.

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If you have a story to share or wish to get in touch with our team, please email us at money-sm@news.co.uk.

Tom Selby, director of public policy at investment firm AJ Bell told The Sun that this “blanket approach” risks causing even more grief.

He said: “While the DWP’s desperation to boost take-up of the WFP among those who are eligible is understandable, taking a blanket approach risks creating extra admin stress for people at what will inevitably already be a really difficult time.

“If the government has the correct information about people, including whether or not they are still alive and likely to be entitled to the payment, then it should be using that information to make sure things like this don’t happen.”

“The response from the individual at DWP in this case, not to mention the convoluted process the individual had to go through, is particularly unforgivable and falls well below the standards most people would expect.”

Tom added that this isn’t the first time the DWP’s admin systems have been found wanting and “they need to get their house in order as a matter of urgency”.

What is the winter fuel payment and who is eligible?

The winter fuel payment is issued to state pensioners on certain benefits to help cover the cost of hiked-up energy bills over the colder months.

This is because households tend to use more energy for heating as temperatures drop.

The payment, which is made in November or December, is automatic meaning you don’t need to apply.

Those on Universal Credit with a joint claim where one member was over the state pension age previously had to apply to get the payment.

To automatically qualify this year, you need to be of state pension age and in receipt of one of the following benefits:

• Pension Credit
• Universal Credit
• income-related Employment and Support Allowance (ESA)
• income-based Jobseeker’s Allowance (JSA)
• Income Support
• Child Tax Credit
• Working Tax Credit

You must have an active claim for these benefits during the “qualifying week” which is from September 16 to 22 this year.

You only need to apply this year if:

• you moved to an eligible country before January 1, 2021
• you were born before September 23, 1958
• you have a genuine and sufficient link to the UK – this can include having lived or worked in the UK and having family in the UK

Households can claim by phone from October 28 via the number 0800 731 0160.

They have until March 31, 2025 to do this.

Or to claim by post, you’ll need to fill in the winter fuel payment claim form and post it to the Winter Fuel Payment Centre.

This is available at www.gov.uk/winter-fuel-payment/how-to-claim.

What energy bill help is available?

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There’s a number of different ways to get help paying your energy bills if you’re struggling to get by.

If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter.

This involves paying off what you owe in instalments over a set period.

If your supplier offers you a repayment plan you don’t think you can afford, speak to them again to see if you can negotiate a better deal.

Several energy firms have grant schemes available to customers struggling to cover their bills.

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But eligibility criteria vary depending on the supplier and the amount you can get depends on your financial circumstances.

For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £2,000.

British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund.

You don’t need to be a British Gas customer to apply for the second fund.

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EDF, E.ON, Octopus Energy and Scottish Power all offer grants to struggling customers too.

Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR).

The service helps support vulnerable households, such as those who are elderly or ill, and some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you’re struggling.

Get in touch with your energy firm to see if you can apply.

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More energy help for pensioners

In response to the government’s slash to the winter fuel payments, Octopus Energy has launched a scheme offering discretionary credit of between £50 and £200 to pensioners.

British Gas has also set aside over £140 million this winter for its Individual and Families Support Fund.

And Scottish Power‘s Hardship Fund has handed out more than £60 million to its struggling customers.

To find out what you can get, check the offers from your own supplier first by going to their website or asking someone on the phone.

Most schemes are exclusive to customers, but the British Gas Individual and Families fund is available to everyone if your own supplier can’t help.

Help can also be accessed from your local council via the Household Support Fund, which has renewed a fresh pot of £421million for vulnerable households.

To find out if you are eligible, go to your council’s website and read over the conditions of the scheme.

If you’re just looking for simple ways to reduce your bill this winter, each of these supplier schemes, as well as the Household Support Fund also offer free electric blankets as part of their deal.

For example, Octopus has said they will distribute 20,000 electric blankets from Dreamland to its most vulnerable customers, keeping them warm for “as little as 3p an hour”.

The “heat yourself not your home” approach is trending fast, with retailers such as B&M introducing ranges of affordable self-heating appliances.

However, it is important to note that the elderly should not avoid turning the heating on if they are cold – for energy help contact your provider or local council, or read our article here.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

Good morning and welcome to your Morning Briefing for Thursday 24 October 2024. To get this in your inbox every morning click here.

Value of ‘lost’ pension pots hits £31bn

The total value of ‘lost’ pension pots is now estimated to be £31.1bn, new data published by the Pensions Policy Institute (PPI) reveals.

This has risen by £4.5bn, from £26.6bn in 2022.

Almost 3.3 million pension pots are now considered lost, containing an average sum of £9,470.

Diary of an aspiring adviser

In this ‘Diary of an aspiring adviser’ column, Almond Financial paraplanner Ryan Sharpe recalls feeling imposter syndrome in their former career as a scientist when someone at an international conference said they though their work was pointless.

“I’m grateful my experience since changing to the advice profession has been one of night and day,” said Sharpe.

“Whenever I have interacted with people in the wider industry, whether in a random email, at a conference or picking their brain over a coffee, I have been met with overwhelmingly helpful, friendly responses.”

Wealthtime platform upgrade

Wealthtime has partnered with tech firm Wipro and software provider GBST on its platform technology upgrade.

The partnership will see the Wealthtime and Wealthtime Classic platforms brought together under one brand on a significantly enhanced platform.

Wipro and GBST will employ a joint co-delivery model to provide end-to-end platform services.

Quote Of The Day

Given the severity of the pandemic, we were always likely to see an improvement in life expectancy from the darkest days of 2020

– Stephen Lowe, group communications director at Just Group, comments on figures published by ONS reveal a bounce back in life expectancy in 2021-23.

In Other News

The Income Protection Task Force (IPTF) has announced its plans for 2025.

Next year will see the organisation restructure including the introduction of a Board to provide professional oversight.

Andrew Wibberley will step down as co-chair after four years, with Jo Miller becoming managing director and board chair, and Vicky Churcher becoming executive director and vice chair.

Commenting on his departure, Wibberley said: “In the last four years the shift from people working on IP because they felt they ought to, to people suffering FOMO if they’re not involved, has been great to see. Most importantly, this is translating into more people protecting their incomes, which is a fantastic thing.

“I’m looking forward to seeing the results of the next exciting things coming out of the IPTF and those sales continuing to grow.”

The plans outlined will also see the continuation of some of the organisation’s key work, including 7Advisers, IPAW, workstream meetings and the return of the Let’s Talk IP podcast.

Additionally, the group outlined plans for several projects for the year ahead focused on the organisation’s key objectives: education, collaboration and insight.

The news follows a busy year for IPTF so far, which has seen the continuation of the 7Advisers project, a celebration of the 7Families ten-year anniversary, the launching of the Let’s Talk IP podcast and profile of an income protection customer and the hosting of another Income Protection Action Week.

Reeves to announce major change to fiscal rules releasing £50bn for spending (The Guardian)

Nvidia CEO targets more India growth through fresh partnerships (Bloomberg)

Barclays third-quarter profit beats forecasts with 18% rise (Reuters)

Did You See?

M&G has launched its first sustainable corporate bond strategy in collaboration with responsAbility, the Swiss-based asset manager.

The M&G (Lux) responsAbility Sustainable Solutions Bond Fund has been designed following active engagement with institutional and wholesale investors seeking sustainable active fixed-income strategies.

The fund, which is classified as Article 9 under the EU’s Sustainable Finance Disclosure Regulation, will leverage M&G’s deep credit expertise and responsAbility’s long-standing track record on impact and sustainable investing.

It will be co-managed by Mario Eisenegger and Ben Lord, who are long-standing members of M&G’s €161bn global fixed-income investment division.