The Baby Bonus Scheme is designed to help families defray the costs of raising a child. The Baby Bonus Cash Gift has been enhanced for eligible children born, or have an estimated delivery date, on or after 1 January 2015:
- Introduction of a new Baby Bonus Plus of $2,000.
The Baby Bonus Plus is intended to support parents’ out-of-pocket caregiving costs during the first 18 months of a child’s life, and will be disbursed at the 15th and 18th month mark to provide parents with more sustainable support.
- Extension of enhanced Baby Bonus Cash Gift (i.e. inclusive of the Baby Bonus Plus) to 5th and subsequent children.
The Cash Gift has been extended to the fifth and subsequent children, together with the Baby Bonus Plus.
Child Development Account
The CDA is a special savings account for Singaporean children to help build up the savings that can be spent on approved uses at Baby Bonus Approved Institutions. When a CDA is opened, the child will receive CDA benefits comprising (a) the CDA First Step Grant which will be automatically credited after CDA opening and (b) dollar-for-dollar Government co-matching for each dollar that parents deposit in the CDA, up to the co-matching caps shown below. The CDA is opened until the year of the year that the child turns 12 years old.
| Birth Order |
CDA components
|
Total CDA Benefits |
First Step Grant
(no initial deposit from
parents required)1
|
Maximum Government
co-matching |
| 1stChild |
$3,000
|
Up to $3,000 |
Up to $6,000 |
| 2nd Child2 |
Up to $6,000 |
Up to $9,000 |
| 3rd & 4th Child |
Up to $9,000 |
Up to $12,000 |
| 5th child and higher |
Up to $15,000 |
Up to $18,000 |
1Applicable for eligible children who are born, or have an estimated date of delivery on or after 24 Mar 2016.
2Applicable for eligible children who are born, or have an estimated date of delivery, on or after 1 Jan 2021. If the child is born before 1 Jan 2021, the maximum Government co-matching is $3,000.
Children of unwed parents who are born, or have an estimated delivery date, on or after 1 September 2016 can receive CDA benefits.
