Extract from speech by chairman of NTUC Income at the AGM
- Some policyholders have raised specific concerns on the special bonus in blogs. Allow me to address them.
- While special bonuses are not guaranteed, they are designed to ensure that the reduction in annual bonus is compensated. As I have indicated earlier, the new bonus structure is aimed at improving, the total payout to policyholders.
- Should the special bonus in future reduce due to adverse financial conditions, we are committed to restoring it when conditions improve.
- I have stated that this Board will look after the policyholders’ interests. Towards this end, the Board will ensure that the bonus allocated to policyholders result in payouts is fair and consistent with the experience of the Life Fund.
- While special bonuses are not guaranteed, they are designed to ensure that the reduction in annual bonus is compensated. As I have indicated earlier, the new bonus structure is aimed at improving, the total payout to policyholders.
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