230,000 children to receive S$200 Child Development Account top-ups
The CDA top-up will be credited in batches to all Singaporean children aged 6 and below from Sep 8.
SINGAPORE: About 230,000 children will each receive a one-off top-up of S$200 to their Child Development Account (CDA) from Thursday (Sep 8).
The CDA top-up will benefit all Singaporean children aged six and below in 2022, the Ministry of Finance (MOF) and Ministry of Social and Family Development (MSF) said in a joint press release on Monday.
The CDA top-up is part of the Household Support Package announced at Budget 2022 to provide families with additional support for their child-raising expenses.
Funds in the CDA can be used to pay for the child's education and healthcare needs.
"The S$200 will be credited directly into the child’s CDA in batches from Sep 8 or after the CDA is opened, whichever is later," said the joint statement, adding that parents who have yet to open a CDA will need to do so by Jun 30, 2023 for their children to receive the top-up.
Those who are eligible will receive notifications through SMS, email or a hardcopy letter after the CDA top-ups have been credited.
Parents can view their child’s CDA balance by checking their bank’s monthly CDA statement.
Children aged seven to 20 had also received a one-off top-up of S$200 to their Edusave account or Post-Secondary Education Account in May this year.
To guard against scams, SMS notifications sent to CDA trustees would only be from SMS ID “MSF”, said the joint statement, adding that the notification will only contain information on the status of the top-up after it has been credited into the child’s CDA.
"CDA trustees will not be asked to reply to the SMS, click any links, or provide any information to the sender.
"Messages on the CDA top-up will not be sent via WhatsApp or other mobile app messaging platforms."