Summarized from TODAY Online
05 January 2015
SINGAPORE — The Edusave scheme reflects Singapore’s typical approach of setting aside resources for the future when it is able to and spending only from what it has put aside, said Deputy Prime Minister Teo Chee Hean.
Citing how disbursements from the scheme each year come solely from the income generated from the Edusave Endowment Fund, he said: “This is quite different from many other countries, which tend to spend first and then figure out how to fund it later.”
The scheme, he added, is a good example of how Singapore has been able to make progress since its independence 50 years ago.
When the scheme started, the awards were all for academic excellence, he pointed out. Subsequently, new awards were introduced for those who had improved academically or who display leadership, service to community and school, or excellence in non-academic activities, he said.
The newest Character Awards, started in 2012, recognise students who demonstrate exemplary values and civic responsibility through their behaviour and actions — in line with the Education Ministry’s emphasis on values-driven education, said Mr Teo.
Even as the Government continues to provide more career pathways and skills-upgrading opportunities, Mr Teo said society must celebrate different types of success and respect every person in every job for their skills.
But those who have done well should also find ways to give back to society and make Singapore a better home, as the pioneer generation did, he said.