Bonuses reduced by a significant amount

Hi Mr. Tan,
I have been reading your blog with focus on the bonus reduction issue by NTUC recently. I wrote to NTUC based on the template provided by you - thanks!

It seems that my two policies were affected by the bonus cut. The 2007 bonus sums have been reduced by a fair amount. There seems to be a significant cash value reduction over the next 5 years as well. Would you review my policies and provide your brief comments please?

I'd think it's not advisable for me to surrender these 2 policies now - I'll just keep these as my 'bond' portion of my investment portfolio.

REPLY
NTUC Income has reduced the annual bonus. But they claim that the terminal bonus, payable on surrender, has been increased to compensate for the reduction.

Personally, I do not like the terminal bonus as it is not guaranteed, and may be taken away. The annual bonus is vested and guaranteed each year as it is declared.

I will be organising a collective protest. You can read about it in my blog. I hope that you will join this effort.