PCF temporary fees rebate: $6.7m profits last 4.25 years?

PCF give rebates to parents hiked by fees

I refer to the article “PCF to give rebates to parents affected by fee hikes for 2016” (Today, Sep 25).

It states that “During this period, all Singaporean and permanent resident children in the centres will enjoy a rebate equivalent to the fee increase amount,” PCF said. This means the new fees will only take effect from July 1 next year. “We are reaching out to all parents to inform them of this rebate,” the PCF said.”

Another increase, then temporary rebate?

Does this not sound familiar? Increase fees and then give a temporary rebate due to the public furore over the fee increase when profits increased by 24.7 per cent over the previous year!

$6.7m profits last 4.25 years? 

Its profits for the four and a quarter years from 1 January 2011 to 31 March 2015 was $6,738,540.

$6.1m transferred to SLF & $16.8m Revenue Reserve?

Since it transferred $4,616,091, $230,206 and $1,237,037  of surpluses (total of $6,083,334) to the Singapore Labour Foundation (SLF) in 2012, 2013 and 2014 respectively, and has a Revenue Reserve of $16,823,638 – how many scores of millions of profits has it made over the years?


In view of the above – is the fee increase justified, given that it is “not-for-profit”?

How many centres increase & by how much? 

And also – it has still not answered the question asked – why can’t it be more transparent and specific by telling us what percentage of its centres will be increasing fees, and also by how much?

Reciprocate trust with more transparency?

Since the people have given their trust and mandate – shouldn’t we reciprocate by being more transparent?

We should also spend more to help Singaporeans.

Leong Sze Hian

About the Author

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.