Do not involve irrelevant people

A policyholder send an angry letter about not being able to use Medisave to pay the premium under the Managed Healthcare Scheme from 2007. He copied his letter to several ministers.

I replied to the policyholder:

quote
It is my policy never to reply to a person who writes to me, with a copy to the media or to important people in the government. I find this attitude to be unacceptable.

I suggest that you withdraw your previous e-mail (and notify the other people). If you write to me separately on this matter, I shall be happy to reply to you at that time.
unquote

He acted on my request and told the other people that he will liaise directly with me. Although this does not amount to a "withdrawal", I agreed to reply to him.

What is better than ??

Here is a brief summary of an excellent speech given by Butch Jimenez to the graduating class of the University of the Philippines:

What's better than focusing on the negative? Focus on the positive.
What's better than working hard? It's working smart.
What's better than dreaming? Imagineering.
What's better than doing something for yourself? Doing something for your
country.
What's better than a vision? A cause.
What's better than a long speech? Definitely, a short one.

Talk on Investment at Marine Parade Community Club

I gave an educational talk on investment at Marine Parade Community Club on Saturday 27 August. It was well attended with 200 participants. The Q&A session was very lively and interesting.

The audience found the talk to be useful. They also enjoy a bonus of 2% (ie $2,000 for an investment of $100,000) when they invest within 14 days.

We hold a seminar every week, either at NTUC Income Center (Bras Basah Road) or at a community club. Go to www.income.coop to find out about these seminars. Or call 6788 1111 to find out details of the next talk.

Lowest interest rate for policy loan

An AIA policyholder (Ms Bollard) wrote to the Straits Times to complain that AIA charge 8% for their policy loan.

Other insurers charge from 5.5% to 7%.

There is only one insurer that charge 5.5% for the policy loan, ie NTUC Income. The other insurers charge 6% to 7%.

Singapore is too hot?

Singapore is a nice place to live. It is safe, clean and pleasant.

It has a major drawback. It is too hot.

Long ago, we can enjoy the breeze, which makes life more comfortable. But, the breeze has gone. It is blocked by the buildings. The air conditioning from the houses also blow hot air outside.

I am looking for a way to create breeze. If we can have more breeze, it will be more pleasant.

We are now able to create drinking water using science, and be economical. Maybe, we can use our technology to create breeze?

When will the 10% discount on motor insurance cease?

Someone asked me, "When will the 10% discount on motor insurance cease? His car insurance will expire in a few months time. Will the discount be available on his expiry date?"

My reply, "If you wish to enjoy the 10% discount, you can call our hotline now and register. We will keep the discount for your next renewal. If you do not register now, you will not enjoy the 10% discount when the offer ceases in 1 or 2 months' time. "

So, act now. Register first. You can decide at the expiry date, if you wish to take up the offer.

Educate our young on "character"

Our education system focused on "excellence".

To be excellent, a student has to be top in the class. He have to compete against his classmates. Unconsciously, he learns to be self-centered and selfish.

I prefer an education system that is more balanced. Apart from excellence, it has to teach our students on "character". He has to learn to be considerate, to be generous, to be honest and to show concern for others.

Difficult to make regular saving?

A young person told me that his salary is not enough. He has to pay back a university loan. He finds it difficult to make regular saving. What is my advice?

I replied that his priority should be:

- be frugal and modest in his expenses
- repay his university loan in installments
- make regular saving of 10% to 15% of his salary

After that, he can use any spare saving for travel, entertainment and other expenses. He should avoid taking a loan for a car or other major expenses, as the interest charges are high.

It is important to have regular saving now, when he has a job. In the future, jobs will be less certain. He may be retrenched or the company may close down. At that time, he will have to draw down on his savings.

The best way to invest the saving is in a flexible plan, such as a ILP (investment linked plan).

I hope that this advice is useful for other young people.

Repair new cars at distributor workshops?

Someone asked me, "Why can't NTUC Income discuss with the distributor workshop to repair new cars at their workshop and protect the warranty? "

My answer is:

- we are prepared to work with the distributor workshop
- we have approached them on many occasions in the past
- some are willing to agree with us on a price that is 150% of our quality workshop
- other distributors insist on their repair charges, ie 250% of our quality workshop.

We suspect that the distributors discriminate against us on their pricing. They are willing to give discounts to their tied up insurer, but not to us.

We suggest that the motorist register with us, and come to us after the first year. You can enjoy a 10% discount on our competitive premiums.

Insure your new car with NTUC Income

I encourage owner to insure their new cars with NTUC Income:

- you enjoy lower premium

- if your car is repaired at our quality workshop and your distributor void the warranty, we will take over the warranty.

You do not have to pay higher insurance premium or servicing charges, just to protect your warranty.

My advice: you can use the free warranty provided by the distributor for the initial period. After that, you can forget about the warranty. Many motorists tell me that any defects in the car is likely to be identified within the first few months.

If your distributor gives you an incentive to insure with their tied-up insurers, you can take the incentive for the first year. For the second year, you can come to NTUC Income.

If you register with us now, we will give you a discount of 10% on your insurance. You enjoy this 10% discount ON TOP of our competitive premium rates.

Call 6477 7722 or go to www.income.coop

48 million hits in June 2005

The various websites managed by NTUC Income has hit 48 million hits in June 2005. This is a 5 fold increase from 9 million hits 3 years ago.

The visits have increased signifcantly due to:

- launch of Big Trumpet
- revamp of our Income.coop website

We are probably one of the top 10 websites in Singapore - and this counts the large banks with internet banking and the internet service providers.

Visit:

www.bigtrumpet.com.sg
www.income.coop

For candidates who want to work in NTUC Income, visit our recruitment portal:

www.income.coop/careers

Happy National Day.

Singaporeans should learn to see "grey"

In my interaction with many Singaporeans, I find quite a common trait. They see things as "black" or "white". They cannot see things as "grey".

For an issue, they make judgement on what is "right", which is based on their personal opinion. They cannot see that there are many other choices that can also be "right".

They are not able to accept that some things are "not right", but they are also "not wrong".

There people are quite to jump to conclusions (without checking the view of the other person), to make judgement and to criticise other people. We see them reported as the "ugly Singaporean" when they travel overseas.

Here are some tips:

- recognise that there is "black", "white" or many shades of "grey"
- recognise that there can be several "right" choices - not only your own
- respect the views and opinions of others
- as you fight for your "rights", remember that other people also have "rights".

Happy National Day.

Cost to Video Record your home

Some owner want to install a camera at their home, and record the visitors into a DVR recorder. he following is available at Sim Lim Square:

a wireless camera (9V battery operated) + a receiver: $98
DVR with 80 GB HDD: $600.

The 2 equipments allow video recording of the entrance at your home. The hard disk allows rcording for up to one month.

National Day, 9 August 2005

We are celebrating the 40th anniversary of our Nation.

This year's National Day is a happier occasion:

- the economy is growing
- the stockmarket is robust
- jobs are now easier to find

We must look further ahead. Globalisation will continue to make a big impact on our way of life:

- business is getting very competitive.
- margins are being squeezed
- customers are more demanding

We need to innovate and change.

Here are some tips to ordinary people on how to cope with the challenging times:

- be frugal
- be modest
- have some savings

I wish you a happy National Day.

Visit 3 attractions for $10

Here ia a great way to spend a weekend with your family.

You can visit 3 attractions at only $10!

- Enjoy snowy cool fun activities at Snow City
- See the high-tech world of sports at Science Centre
- Experience the thrills of the giant screen at Omni-Theatre

The usual price is $28, so you save $18 per person.

This promotion is exclusive for policyholders of NTUC Income, and is available for a limited period only. Call 6788 8788.

Privacy?

Some working couples leave their maid at home alone during the day. They stand the risk that the maid may invite visitors into their home.

I suggested that they install a camera at home to record visitors. A few people argued that this shows a lack of trust of the maid or intrude into their privacy.

Here are the positive reasons:

- the camera record the main entrance to the home only
- there are many parts of the home that the maid can keep her privacy
- when we use an ATM machine or visit a shopping mall, we are being recorded

Trust is mutual. If the maid does not respect my right to protect my property, it is all right. I can look for another maid.

There are many ways to show kindness and respect to the maid. We can pay an adequate salary and give time off.

A new way to recruit employees

NTUC Income has adopted an innovative way to recruit new employees. It is producing encouraging results.

Earlier this year, we advertised in the major newspapers about the various types of jobs that will be available in 2005. They include insurance officers, marketing officers, customer service officers and professionals, such as accountants, actuaries, lawyers and others.

Interested applicants were invited to register in our recruitment portal. About 3,500 candidates responded and registered in the portal at www.income.coop/careers.

During the past 6 months, we have sent out the specifications of 50 jobs to suitable candidates, based on their area of interest and expected salary. These candidates are selected based on the details recorded in the database. On average, we invite about 50 candidates for each job.

The invited candidates are able to study the specification of the advertised job, and to respond, if they are interested. Based on their replies and preliminary assessment, we are usually able to shortlist about five candidates for an interview.

We have recruited 250 employees duirng the past 6 months, using this new approach. The quality of the candidate is as usually better than the traditional method.