Mr Tan Kin Lian (above) stepped down from being CEO of NTUC Income in February last year after a 30-year career - but he has not gone quietly. -- PHOTO: BT

HE USED to be NTUC Income's chief executive officer but now as a customer he is one of its toughest critics.

Mr Tan Kin Lian, 60, is mounting an online protest over a move by the insurer to restructure bonus payouts for life policies sold after 1993.

He stepped down from the top job in February last year after a 30-year career - but he has not gone quietly.

The former head honcho is livid over the planned changes which affect two Income policies that he owns, along with those of an estimated 310,000 other policyholders.

In a nutshell, Income plans to cut its annual bonus payouts on these policies from 2.3 per cent to 1.3 per cent of the sum assured.

Instead, it will assign more as special bonuses which are paid only at the time of death or when the policy is cashed out.

Read the full story in Tuesday's edition of The Straits Times.