Dear Mr. Tan,
After reading your letter to "ToDay", I started to worry whether NTUC Income can really pay a higher and better special bonus. I felt so because you said that Mr Lim Boon Heng and Mr Matthias Yeo "reaffirmed that Income would observe its social purpose ..... and give a good deal to the policyholders. They said that the management will need some time to find the appropriate measures to achieve these goals."
Does it mean they have yet to work out a complete and properly thought through plan and just proceed to revise and cut the annual bonus? This is not the way a big and reputable organization works! Especially they are taking care of money saved for retirement or raining day?
What will happen if they can't fulfill what they claim at the end of the day? Just say sorry and forget their "social purpose" and the promises? Your comments please.
In making the change, Income has made sure that the special bonus will compensate for the cut in annual bonus. They have now given adequate assurance on the payment of the speical bonus.
More time is needed to address the other issue, which was raised by me. Income has agreed to ensure that the bonuses are "fair and consistent with the experience of the fund". If this can be achieved, it will be good news for the policyholders. It will probably allow the past bonus cuts to be restored and more to be paid, consistent with the good investment yield.
- ► 2013 (348)
- ► 2012 (1270)
- ► 2011 (1873)
- ► 2010 (2369)
- ► 2009 (1655)
06/01 - 06/08
- Financial Planning and Inflation
- Save for your child's education
- Participating Life Insurance Policies
- Sudden Shift left me high and dry
- What a wasteful world!
- AUD Fixed Deposits
- Get a better yield on your savings
- FAQ: Traded Endowment Policies
- Investing in foreign currency deposits
- Adequate Wage in Singapore
- Call hotline for the best quote
- Restore the Annual Bonus
- Extract from speech by Income's chairman
- Avoid switching to another high cost policy
- Online Trading Platforms
- Give a better currency rate
- Renewal of Motor Insurance
- Foreign currency conversion rate
- Debt Trap
- Investing a Lump Sum
- Call a few companies for a competitive quote
- Bonuses will be fair and consistent with experienc...
- OCBC Preference Shares
- Dr. Lee Kum Tatt's Blog
- Near term investment strategy
- Foreign Currency Fixed Deposit
- Inflation adjusted Income Benefit
- Higher interest rate?
- Reply to New Comment in Today
- Poll on the Collective Protest
- Calculate your Life Expectancy
- Insurance for parents
- Wise words from the late Dr. Lee Kum Tatt
- Farewell to Dr. Lee Kum Tatt
- Bonus based on long term yield
- Higher interest rate for Government bonds
- Drop in maturity benefit
- Reason for Restructuring of Bonus
- Restructuring of EV series
- Gold Link Capital Protected Fund
- Convert Life Annuity to Cash
- Capital adequacy ratio of 170%
- ▼ 06/01 - 06/08 (42)
- ► 2007 (1803)
- ► 2006 (696)
- ► 2005 (159)