SINGAPORE: About 230,000 children will each receive a one-off top-up of S$200 to their Child Development Account (CDA) from Thursday (Sep 8).
The CDA top-up will benefit all Singaporean children aged six and below in 2022, the Ministry of Finance (MOF) and Ministry of Social and Family Development (MSF) said in a joint press release on Monday.
The CDA top-up is part of the Household Support Package announced at Budget 2022 to provide families with additional support for their child-raising expenses.
Funds in the CDA can be used to pay for the child's education and healthcare needs.
"The S$200 will be credited directly into the child’s CDA in batches from Sep 8 or after the CDA is opened, whichever is later," said the joint statement, adding that parents who have yet to open a CDA will need to do so by Jun 30, 2023 for their children to receive the top-up.
Those who are eligible will receive notifications through SMS, email or a hardcopy letter after the CDA top-ups have been credited.
Parents can view their child’s CDA balance by checking their bank’s monthly CDA statement.
Children aged seven to 20 had also received a one-off top-up of S$200 to their Edusave account or Post-Secondary Education Account in May this year.
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The CDA top-up will benefit all Singaporean children aged six and below in 2022, the Ministry of Finance (MOF) and Ministry of Social and Family Development (MSF) said in a joint press release on Monday.
The CDA top-up is part of the Household Support Package announced at Budget 2022 to provide families with additional support for their child-raising expenses.
Funds in the CDA can be used to pay for the child's education and healthcare needs.
"The S$200 will be credited directly into the child’s CDA in batches from Sep 8 or after the CDA is opened, whichever is later," said the joint statement, adding that parents who have yet to open a CDA will need to do so by Jun 30, 2023 for their children to receive the top-up.
Those who are eligible will receive notifications through SMS, email or a hardcopy letter after the CDA top-ups have been credited.
Parents can view their child’s CDA balance by checking their bank’s monthly CDA statement.
Children aged seven to 20 had also received a one-off top-up of S$200 to their Edusave account or Post-Secondary Education Account in May this year.
Continue reading...