Another good year at NFU Mutual

[Chris F]

Looks like they had a good year given the levels of bonus' paid out. I would have assumed there would have been some massive insurance payouts for business interruption given the amount of farmers that have diversified in to holidays, commercial rental and even weddings. But I guess not.

Need to find out how you get a non-exec role there. But £2.3m is a nice package for Lindsay Sinclair, including a £720k bonus.

 

[Sid]

Looks like they had a good year given the levels of bonus' paid out. I would have assumed there would have been some massive insurance payouts for business interruption given the amount of farmers that have diversified in to holidays, commercial rental and even weddings. But I guess not.

Need to find out how you get a non-exec role there. But £2.3m is a nice package for Lindsay Sinclair, including a £720k bonus.

It's been in multiple threads, but staff repeating the same smells of trying to keep site traffic numbers up?

Try the search facility it can work wonders!

 

[Sid]

NFU Mutual remuneration/bonuses!!!

Thoughts on the above given the reported overall losses!

thefarmingforum.co.uk

NFU Mutual Remunerations

Had a read at the bumf that came in from the Mutual and I can see why I am getting so little on the projections for my pension, the Chairman Jim McLaren is on £179,563 and the 4 executive directors from £2,259,503 down to £679,036 . Nice work if you can get it !!

thefarmingforum.co.uk

 

[RAF]

Fair play to them

 

[thorpe]

my nfu investments lost £3000 + £1800 managment fee ! and they get mega bonuses, how does that work after all its supposed to be mutual ?

 

[Highland Mule]

my nfu investments lost £3000 + £1800 managment fee ! and they get mega bonuses, how does that work after all its supposed to be mutual ?

Because you’ve chosen the wrong funds?

 

[thorpe]

Because you’ve chosen the wrong funds?

i didnt choose the funds thats why i pay a managment fee! im a farmer they are fund managers

 

[Highland Mule]

i didnt choose the funds thats why i pay a managment fee! im a farmer they are fund managers

What risk profile are you?

 

[steveR]

Well, as they now effectively don't want my business, if I am no longer an NFU Member, their income will be down a few bob!!

 

[thorpe]

What risk profile are you?

low

 

[Highland Mule]

low

That’s your mistake - without risk you’re just as well putting funds into a bank account and letting it depreciate through inflation. Add in fund fees (1%?) and you’re going to struggle.

Unless your year end was last March ?2020) when the market had crashed down, there is no way that any sensible risk fund would have a deficit. That said, an overly cautious risk profile will be disproportionate in those asset classes which have suffered worst. I would hope that your advisor gave you that caution at the point of investment.

2020/21 year just finished has shown exceptional growth for me, after a chunky drop in early 2020, but my risk profile is high.

 

[Pan mixer]

I put £600 lump sum into a pension with these people in 1987 and £600 into a competitors scheme. I then stopped putting money into either

As they have both come to maturity this year it is interesting to note that one has come to £4240, the other to £21000 odd. Neither were special schemes, just normal lump sum deposits.

 

[Highland Mule]

I put £600 lump sum into a pension with these people in 1987 and £600 into a competitors scheme. I then stopped putting money into either

As they have both come to maturity this year it is interesting to note that one has come to £4240, the other to £21000 odd. Neither were special schemes, just normal lump sum deposits.

Why the hell did you leave the badly performing one there all that time? Surely after a year or two you’d have moved the bad to join the good?

 

[Pan mixer]

Why the hell did you leave the badly performing one there all that time? Surely after a year or two you’d have moved the bad to join the good?

I had other things to think about

 

[Highland Mule]

I had other things to think about

That’s regrettable, but for all 34 years?

Actually, doing the sums is interesting and shows the difference that compounding interest makes. Fag packet calculator suggests the good one did ~12% annual, and the bad did ~5%.