Baby Bonus Scheme

The Baby Bonus Scheme, first introduced in April 2001 and enhanced in August 2004, supports parents’ decision to have more children by helping to lighten the financial costs of raising children. The Scheme now benefits the 1st and 4th child born on or after 1 August 2004. You will get a cash gift of $3,000 each for your 1st and 2nd child and $6,000 each for your 3rd and 4th child. Your 2nd to 4th children will also enjoy government contributions in the form of a dollar-for-dollar matching for the amount of savings you contribute to your child’s Children Development Account (CDA). This is a special savings account that you open at any POSB branch for your child who is eligible for CDA. You can save in the CDA any time until the day before the child’s 6th birthday. The savings will be matched up to the cap of $6,000 for the 2nd child and $12,000 each for the 3rd and 4th child. The Government will match your savings in the following month. You will be eligible for the scheme if he or she is: a. born on or after 1 August 20041; b. a Singapore Citizen or becomes a Singapore Citizen; c. the first to the fourth child born alive to the mother2; and d. the mother is lawfully married to the child's father. Parents whose children do not meet the criteria can write to Baby Bonus & Adoption Branch, MCYS, should they subsequently become eligible. Please visit BabyBonus website for more info>>>

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