Parents of 4 in 10 firstborns have benefited fully from CDA

Mr Melvin Chong and his wife Song Simin with their son Jayden. Mr Chong says that they will top up the 17-month-old's Child Development Account as and when they need to use it.
Mr Melvin Chong and his wife Song Simin with their son Jayden. Mr Chong says that they will top up the 17-month-old's Child Development Account as and when they need to use it.PHOTO: LIN ZHAOWEI FOR THE STRAITS TIMES

Others in no rush to top up Child Development Account to $3,000 to get maximum matching grant under First Step

Nearly half of the eligible families who welcomed their first baby over the last two years have made full use of their Child Development Accounts (CDAs) - putting in the $3,000 needed to get a matching grant from the Government.

A Ministry of Social and Family Development spokesman told The Straits Times that 42.1 per cent of firstborns since 2016 - the First Step grant was started in late March that year - have hit the maximum government matching contribution. For the second child, the figure is 35.8 per cent, and it is 10.9 per cent for the third, 4.8 per cent for the fourth, and 1.2 per cent for the fifth child and beyond.

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A version of this article appeared in the print edition of The Straits Times on May 21, 2018, with the headline 'Parents of 4 in 10 firstborns have benefited fully from CDA'. Print Edition | Subscribe