Dear Mr. Tan,
May I be permitted to make an observation. The new management of Income missed a wonderful opportunity to show that they can embrace the true spirit of being a cooperative and win over the loyalty of over 1 million policyholders that you have built up over the past 30 years.
How? The excellent investment yield in 2006 and 2007 gave them the chance to restore back all of the bonus cuts since the Asian financial crisis. Why did I say this? I read that the investment yield over the past 10 years is 7.8% and that is more than the yield of 6% that was used to project the bonus rates during these years.
I am rather sad that they did not take this opportunity to re-establish their credentials. Instead, they appear to be trying to hide the profits from the policyholders, and give less than what the actual experience would really allow. How disappointing. What are your views, Mr. Tan?
I agree with your views. Indeed, if they have restored the past bonus cuts, and they have the surplus to do so, they would have placed NTUC Income is a strong marketing position. This is a reputation that is more valuable than the millions of dollars spent on advertising.
They still have the chance to change their strategy and adopt this "restore the bonus cut". I hope that the board will do so.
- ► 2013 (304)
- ► 2012 (1270)
- ► 2011 (1873)
- ► 2010 (2369)
- ► 2009 (1655)
06/29 - 07/06
- Losing its cooperative character
- Free surplus in the Life Fund
- Buy Two Life Annuities
- Fair Treatment of Policy Owners
- Long breakeven point for 30 year endowment
- Asset share in 2009
- Improve public transport
- Use of asset share in Malaysia
- Cooperative credentials
- Disclose the Asset Share of the Policy
- A Gracious Society
- Public Transport in Singapore
- Low yield on maturing Growth policy
- Losing faith
- Delay in handling a theft claim
- Ask for relevant information
- Bonus that reflect the actual experience
- Outsourcing of work
- Saving regular to buy a Life Annuity
- Switching to a new rider for Shield plan
- Is it time to invest in the stockmarket?
- Investing to get a retirement income
- Financial planning and inflation
- Put People First
- ▼ 06/29 - 07/06 (25)
- ► 2007 (1803)
- ► 2006 (696)
- ► 2005 (159)