Difficult questions

Hello Mr Tan,

1) Can Income unilaterally change the bonus structure without policyholders' consent?

2) According to MAS's reply: "bonus declarations and bonus restructuring are commercial decisions". Can the commercial practices be applied to Income (a cooperative)?

3) According to Mr Ken Ng: "staying put would cut Income's investment flexibility and the potential to invest in assets such as equities that could earn a higher return in the longer terms". How much more return can policies holders expect should the change pass through? How long is "long term"?

4) What penalties will the Chief Actuary, CFO and CEO get, if their decisions are unsound, after they inplemented the new policies, and then subsequently leave the company, bearing in mind that their policies needed "LONG TERM" to see the "fruits" !

REPLY
I suggest that you address the questions to NTUC Income and MAS. I am not able to answer them. I am as puzzled as you are.