250,000 children to get $200 Child Development Account top-up

The money will be credited directly into the child's account.
The money will be credited directly into the child's account.ST PHOTO: GIN TAY

SINGAPORE - All Singaporean children of up to six years of age will receive a top-up of $200 to their Child Development Account (CDA) from mid-September.

The top-up will benefit about 250,000 children.

Money in the CDA can be used to pay the child's or siblings' education and health expenses at registered schools, childcare centres, clinics and hospitals.

The top-up is part of the Household Support Package announced in Budget 2021 to provide families with more financial support for their children.

The money will be credited directly into the child's account.

Eligible parents will receive notifications of the successful top-up to their child's account.

Parents who have yet to open a CDA will need to do so by 30 June 2022 for their child to receive the top-up.

In May, Singaporean children aged seven to 20 had received a $200 top-up to their Edusave account or Post-Secondary Education Account.

The full list of places where funds from the CDA can be used can be found at this website.