It has been reported that NTUC’s My First Skool and the PAP Community Foundation (PCF), the two largest pre-school operators here, will be raising their fees next year.
The fees will be increased by an average of $34 for My First Skool and $28 for the PCF.
For infant care, on average, My First Skool will raise fees by $14, while PCF will charge $48 more.
The two pre-school operators said that the fee increase is to improve the quality of their programmes, and to cope with soaring operating costs such as higher staff salaries.
Both operators had raised fees at most of their centres this year.
Nursery classes saw the largest fee increase of S$69.02. This unilateral fee increase will apply to 113 of their 120 childcare centres.
It has also been reported that My First Skool will give parents a rebate from January to March to help parents cushion this fee increase.
NTUC First Campus – $9.5m profits?
According to the 2014 annual report (31.12.2014) of NTUC First Campus – which operates My First Skool – the surplus for the group after contributions to the Central Co-operative Fund (CCF), the Singapore Labour Foundation (SLF) and taxation, was $9.5 million.
For 2013, the surplus was $6.5 million. This is an increase of 46 per cent over the year.
In view of the above increase in profit, is the increase in fees justified despite the said reasons for the price hike?