Principles and Practices of Financial Management
Principles and Practices of Financial Management (PPFM)
Our PPFM was last changed on 1st May 2022. The changes we made provide greater clarity on how the With-Profits fund is managed and improve the overall structure, language and layout of the document. The PPFM sets out the detail of how we manage our With-Profits funds.
We have also produced an appendix to the PPFM. This contains additional useful information about our With-Profits business.
To ensure fairness, the NFU Mutual Board set up a With-Profits Committee to advise them on the management of the with-profits business, ensure compliance with the PPFM and look after the rights, interests and expectations of different with-profits policyholders.
We call a With-Profits policy unitised when your investment buys units in the With-Profits Fund. If you want to invest in a new unitised With-Profits policy or you have one of the following NFU Mutual policies, you should read Your Guide to Our Funds [PDF: 364KB].
- Shrewd Savings Plan ISA
- Personal Pension Account
- Additional Voluntary Contributions Plan
- Group Personal Pension Plan
If you have one of the following NFU Mutual policies, which are unitised With-Profits but no longer open to new business, and require further information please contact us on 0800 622 323.
- Capital Access Bond
- Personal Pension Plan
- Executive Pension Plan
- With-Profits Personal Pension Plan
- Capital Investment Bond
- NFU Mutual Vintage Bond
If you have a Conventional With-Profits contract, you should read A guide to Conventional With-Profits [PDF: 143KB]. We call a With-Profits policy conventional when we guarantee to pay out an agreed amount when the policy matures. This could be a lump sum (the sum assured) or a series of payments (an annuity or pension). NFU Mutual Conventional With-Profits policies include:
- Endowments (a regular savings contract that promises to pay a minimum amount at the maturity date), including minimum cost endowments
- Whole of life policies (a regular premium policy that promises to pay out a minimum amount on death), including low cost whole of life policies
- Any other With-Profits policy taken out before 1st July 1988
If you have a With-Profits Annuity contract you should read A guide to the With-Profits Annuity [PDF: 85KB].