Education is the basics for all, regardless of race or religion. That was what Dr Tan had in mind when he had fought hard for it in the year 1988, when he was the GPC Chairman for Education during that time.
Dr Tan had fronted a team of MPs to debate the use of CPF for education, as he had understood that many were not able to afford it and knew that education is an important form of investment.
During that period, your CPF account options were mainly for your home or investments into stocks and shares. By giving an individual a new option for education, it not only had brought new hope to many who wanted to further their studies, it had also eased the burden off many parents who may not have the option of engaging or qualifying for a bank loan.
The main opposing factor about this new proposal, was the depletion of the CPF account holder during retirement.
After numerous bouts of debate, the motion was approved.
Then Minister of Labour Lee Yock Suan said that he “was against it, but you have pressed me to study it and I shall”.
The guidelines were finally in good order and the rest is of what’s done till date.
Source: The Straits Times 30 March 1988
Source: “CPF Education Scheme”. Mycpf.cpf.gov.sg. Archived from the original on 23 July 2011. Retrieved 12 July 2018.