The Annual General Meeting is scheduled to be held at 6 pm on Friday, 29 May 2009 at the Auditorium, 7th level, NTUC Income Centre, 75 Bras Basah Road, Singapore 189557.
Policyholders who want to know and question the rationale behind further bonus cut for annuities and other par products must attend. Has the 2008 bonus cut really benefited the policyholders? Increased benefits? How? or is it pulling wools over our eyes because ntuc has less to pay.How much was lost in absolute number? If there wasn't a cut would the big loss be avoided?
What is so good about news out there? NTUC has advertised and boasted about the yields of the LAST 20-30 years. Who was running NTUC in the last 20-30 years? Someone has unashamedly used Mr. TanKL's buttock skin for their facial skin. Did Mr. TanKL boast about the yields when he was helming ntuc? No, because maybe he saw it as his responsibility to see that the policyholders get a good and decent returns. How were the good returns achieved? Cost, cost ,cost and if cost and expense ratio was kept low and good management of the life fund good return would be achieved and that was exactly what had happened during his responsible tenor and his responsible fiduciary duty to policyholders.
Some of you may be asking why is Mr. Tan discouraging consumers from buying whole life and endowment products from NTUC and other companies?
You don't need rocket science knowledge or be an actuary to know that HIGH COST and POOR INVESTMENT and LOW INTEREST RATE are the culprits and that the WL and endowment products are affected by them. Cost is controllable but unfortunately is the greatest culprit. If CEO and senior management want high salary and the greedy agents want high commissions and only will push products if there are promotions and incentives to kick their arse to push to consumers, where do you think these moneys come from? From the pockets of ceo? senior management? job credits? subsidies from the unions? or MAS? The answer is obvious ... From suckers like YOU... With cost rising, low interest rate and poor return HOW TO GET THOSE RETURNS THEY ADVERTISED IN THE FUTURE? Look, they are misrepresenting and misleading. You hear this statement? "Past is no indication of the future " is a common disclaimer, but why are they are telling you their products can deliver these returns. Of course, just as there is good news out there , there are as many suckers out there too. So,you can see what is the truth now. Mr. TanKL didn't use such dubious misleading strategy for the sake of sale. He was straightforward and the interest of the consumers was at the heart of every product and no bullshitting with words.Can or cannot and don't use and play with words. So you unwary consumers out there the good news is too good to be true and it is.Come May, you may want to know what has happened to the money they cut from your annual bonus. Have they gambled it away? How much was the loss?
What is the point of attending? More frustrations to watch a wayang by a foreigner CEO? We must know when to cut loss and avoid further heartache. Lets move on and do what is necessary to reduce stress and prolong our lives.
I have received the statement for my NTUC Money Market Fund investment. On 1 Aug 08, the offer/bid price was $1.091 while more than 6 months later on 28 Feb 08, the offer/bid price was only $1.096. This translates roughtly to a miserly 1% p.a. absolute return. But in fact, I actually lost 5.5% in real money terms (after adjusting for inflation rate of 6.5% in 2008).
It is indeed a raw deal! Well, a small consolation is that I didn't lose as much as investors in other products like unit trusts and structured products such as minibonds.
Policyholders who want to know and question the rationale behind further bonus cut for annuities and other par products must attend.
ReplyDeleteHas the 2008 bonus cut really benefited the policyholders? Increased benefits? How? or is it pulling wools over our eyes because ntuc has less to pay.How much was lost in absolute number? If there wasn't a cut would the big loss be avoided?
What is so good about news out there?
ReplyDeleteNTUC has advertised and boasted about the yields of the LAST 20-30 years. Who was running NTUC in the last 20-30 years?
Someone has unashamedly used Mr. TanKL's buttock skin for their facial skin. Did Mr. TanKL boast about the yields when he was helming ntuc? No, because maybe he saw it as his responsibility to see that the policyholders get a good and decent returns.
How were the good returns achieved?
Cost, cost ,cost and if cost and expense ratio was kept low and good management of the life fund good return would be achieved and that was exactly what had happened during his responsible tenor and his responsible fiduciary duty to policyholders.
Some of you may be asking why is Mr. Tan discouraging consumers from buying whole life and endowment products from NTUC and other companies?
You don't need rocket science knowledge or be an actuary to know that HIGH COST and POOR INVESTMENT and LOW INTEREST RATE are the culprits
and that the WL and endowment products are affected by them.
Cost is controllable but unfortunately is the greatest culprit. If CEO and senior management want high salary and the greedy agents want high commissions and only will push products if there are promotions and incentives to kick their arse to push to consumers, where do you think these moneys come from?
From the pockets of ceo? senior management? job credits? subsidies from the unions? or MAS?
The answer is obvious ... From suckers like YOU...
With cost rising, low interest rate and poor return HOW TO GET THOSE RETURNS THEY ADVERTISED IN THE FUTURE? Look, they are misrepresenting and misleading. You hear this statement? "Past is no indication of the future " is a common disclaimer, but why are they are telling you their products can deliver these returns.
Of course, just as there is good news out there , there are as many suckers out there too.
So,you can see what is the truth now. Mr. TanKL didn't use such dubious misleading strategy for the sake of sale. He was straightforward and the interest of the consumers was at the heart of every product and no bullshitting with words.Can or cannot and don't use and play with words.
So you unwary consumers out there the good news is too good to be true and it is.Come May, you may want to know what has happened to the money they cut from your annual bonus. Have they gambled it away? How much was the loss?
What is the point of attending? More frustrations to watch a wayang by a foreigner CEO? We must know when to cut loss and avoid further heartache. Lets move on and do what is necessary to reduce stress and prolong our lives.
ReplyDeleteCan any poliy holder attend the AGM?
ReplyDeleteI have received the statement for my NTUC Money Market Fund investment. On 1 Aug 08, the offer/bid price was $1.091 while more than 6 months later on 28 Feb 08, the offer/bid price was only $1.096. This translates roughtly to a miserly 1% p.a. absolute return. But in fact, I actually lost 5.5% in real money terms (after adjusting for inflation rate of 6.5% in 2008).
ReplyDeleteIt is indeed a raw deal! Well, a small consolation is that I didn't lose as much as investors in other products like unit trusts and structured products such as minibonds.
Co-operative NTUC Income Advertising on Google Ads
ReplyDeletehttp://hongjun.blogspot.com/2009/04/co-operative-ntuc-income-advertising-on.html