A COMMENT POSTED IN MY BLOG
Hi --
NTUC Income says, "We don't have the money to pay higher bonuses."
Mr. Tan says, "Based on your high stated yield, it sure looks like you do."
How to know for sure?
As Mr. Tan has pointed out before, it is easy. Simply disclose NTUC Income policyholder fund's "asset share" (for each of its policyholders), as required in other countries like Malaysia, Australia, UK and South Africa.
That would give us the answer. At the moment, there is no way for policyholders to know if NTUC Income is holding back on bonus payments or not.
NTUC Income says it is not -- but declines to provide documentation.
Why? Why not reveal each policyholders' asset share? It is easy to do. There is adequate precedent in other countries for doing it. Everyone agrees it would increase transparency of the policyholders' fund.
Those are rather good reasons for disclosure.
Perhaps NTUC Income can state its reasons for non-disclosure.
Sincerely,
Larry Haverkamp
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