I am doing a master's programme at the Institute of Systems Science, National University of Singapore.
The course fee is about $40,000 - quite a big sum.
Although I can afford it, I would rather save this money for a rainy day, especially during this period of uncertainty, and utilise my Central Provident Fund (CPF) to pay for this part-time postgraduate course instead.
Unfortunately, the CPF Board does not allow this. I can do so only if I were an undergraduate pursuing a full-time course.
There is so much coaxing from the Government for professionals, managers, executives and technicians, like myself, to upgrade our skill sets and knowledge. I acknowledge this initiative and am willing to put in effort and time to embark on this continual learning journey.
It is time for the CPF Board to review its policy and ensure it stays relevant.
As a safeguard, it can always set a cap on the amount one can withdraw for part-time courses.