#554 ft. Tan Kin Lian - Income-Allianz Deal: Is NTUC Income’s Social Mission Still Relevant?

Yah Lah BUT...

With the recent spotlight on the Income-Allianz deal, we wanted to get a better understanding of Income’s original social mission and why people are feeling anxious about the deal. So we got former NTUC Income CEO Tan Kin Lian himself to come by the YLB studio to give us a “NTUC Income 101” lesson based on his 30 years of experience leading the cooperative. We go into the nuts and bolts about why policyholders need more assurance, whether NTUC Income’s original social mission is still relevant, and how Tan thinks this saga will play out.

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(00:00) Words of Wisdom
(00:42) Intro
(05:30) Business vs. Co-operative
(17:43) What Tan Thinks Is the Reason NTUC Income Corporatized
(20:20) Is It Still Realistic For Businesses to Have Social Missions?
(26:27) Can NTUC Enterprise Still Be Considered A Social Enterprise?
(36:46) Is The Sale Really Income's Only Way Of Survival?
(44:27) Is There Still Any Due Diligence That Can Be Done?
(50:07) Are There Any Safeguards to Protect Policy-holders?
(55:34) Current & Prospective Income Policy-holders: What Should You Do?
(01:00:37) One Shiok Thing

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Reference Links

• What to know so far about the Income-Allianz saga
• Open letter to MAS on sale of Income Insurance to Allianz
• NTUC Enterprise, Income Insurance rebut former CEO’s criticisms about Allianz offer
• NTUC pledges to hold Income to commitment of keeping two existing low-cost insurance schemes affordable

Find Tan Kin Lian

• Facebook
• TikTok

One Shiok Thing

• Impressions of Monet at Gardens By The Bay
• Femke Bol anchors Netherlands to Epic Comeback

Mics and Headphones from @shure

Chairs from @ergotunechair

Edited and mixed by Tristen Yeak