\n<\/p>\n
Under the current Baby Bonus Scheme, children of higher birth orders receive higher cash gifts and co-matching caps for their CDAs.<\/p>\n
\u201cUltimately, the decision to have children is a deeply personal one. Policies alone cannot make this happen. But what we can do is make it easier for Singaporeans who want children to start and raise a family,\u201d said Mr Wong.<\/p>\n
\u201cAnd we want every family to know: if you choose to have children, the government will stand with you. We will provide more support, and over more years. And we will walk alongside parents throughout the journey of raising their children.\u201d<\/p>\n
In the 2021 Marriage and Parenthood Survey by the NPTD, financial costs had featured among the top barriers to parenthood, with couples concerned about the growing cost of raising children, including childcare and infant care, tuition and enrichment, housing and transport.<\/p>\n
The new scheme aims to simplify the child-raising support available \u2013 like the Baby Bonus Cash Gift, CDA and Large Families Scheme \u2013 and make it less complex and easier to understand for parents here, said Mr Wong.<\/p>\n
Starting Apr 1 next year, each eligible newborn will receive a S$10,000 cash gift under the SG Child Support Package, which will be disbursed in two tranches within 12 months of birth.<\/p>\n
\u201cThis provides more substantial upfront help with the higher expenses incurred at birth and in the child’s first year,\u201d the NPTD said.<\/p>\n
Children born before Apr 1 next year who are still receiving payouts under the Baby Bonus Scheme will continue to do so until Mar 31 next year.<\/p>\n
After the new scheme kicks in, they will receive a top-up by Apr 30 if applicable, to bring their total amount of cash gift to S$10,000.<\/p>\n
Each child will also receive a S$5,000 CDA First Step Grant (FSG) and up to S$5,000 in co-matching of the CDA by the government.<\/p>\n
\u201cThe CDA will be extended to the end of year the child turns 16, instead of 12 years old today, giving parents a longer period to benefit from government co-matching and use CDA funds for approved child-raising expenses,\u201d said the NPTD.<\/p>\n
The support does not stop at birth, noted Mr Wong.<\/p>\n
Each year for the first 16 years of a child\u2019s life, S$2,000 in Child Credits will be disbursed, along with Edusave top-ups every year in primary and secondary school, he said.<\/p>\n
A S$10,000 top-up will be made to the child\u2019s Post-Secondary Education Account (PSEA) when he or she turns 17, added Mr Wong.<\/p>\n<\/div>\n
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Under the current Baby Bonus Scheme, children of higher birth orders receive higher cash gifts and co-matching caps for their CDAs. \u201cUltimately, the decision to…<\/p>\n","protected":false},"author":1,"featured_media":78947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/dam.mediacorp.sg\/image\/upload\/s--GA3Tewua--\/c_fill,g_auto,h_676,w_1200\/f_auto,q_auto\/babies-at-a-singapore-hospital--file-photo--today---1706202.png?itok=spWAhzqK","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[2071,3538,3572,28779,112,1397,28808,1293,823,59],"class_list":["post-78946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-child","tag-growing","tag-moves","tag-ndr","tag-parents","tag-part","tag-s70000","tag-singaporean","tag-support","tag-years","wpcat-2-id"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/78946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=78946"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/78946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/78947"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=78946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=78946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=78946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}