If you like to know Income's reason for the restructuring of bonus, you can read their statement in their website: http://www.income.com.sg/
Here are some key points from the press statement issued by Income:
> We will work always with customers’ interests at heart. Every decision we take is calculated to protect their interests individually and as a whole. What we seek to do is to deliver the best possible returns to policyholders, now and also in the future.
> Although special bonuses are not guaranteed, they are set to ensure that the reduction in annual bonus is fully compensated. Where the strength of the Fund and investment outlook permits, this will continue in future. Should this compensatory special bonus reduce in future due to poor investment conditions, we are committed to restoration when conditions improve.
> We will ensure that the bonus allocated to policyholders result in payouts which are fair and consistent with the experience of the fund.
I remember that these points are also reiterated in the speech given by chairman Ng Kee Choe at the annual general meeting. I believe that his full speech will be posted in the website over the next few days.
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