NTUC Income AR 2017

Based on surveys with our beneficiaries, 93% of them indicated that they now have more time to focus on their school work because of the bursary. Ninety-six percent of our beneficaries also indicated that they are more confident of managing their expenses prudently after attending the financial literacy workshops. In addition to the FDP, Income OrangeAid continues to positively impact the lives of more than 3,000 children and youth from 13 specialised schools and charity organisations we support. Contribution to the Labour Movement In 2017, Income contributed $1.5 million to the Labour Movement. This included $1.0 million donation to the U Care Fund, which provides assistance to low-income union members and their families. CONCLUSION The Directors would like to express our heartfelt appreciation to NTUC, the unions and affiliates, Income’s partners, customers, management and staff for your contributions to Income. It is only with your support and patronage that Income can succeed in our aspiration to be a social enterprise of distinction and to help people of all collars in Singapore achieve financial resilience while being protected against life’s uncertainties. Through you, we will continue to innovate and to deliver value and a positive difference to the people we serve through insurance. For and on behalf of the Board of Directors Stephen Lee Chairman DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 6 NTUC INCOME INSURANCE CO-OPERATIVE LIMITED ANNUAL REPORT 2017