SINGAPORE: About 250,000 children will each receive a S$200 top-up to their Child Development Account (CDA) from mid-September 2021.
Every Singaporean child aged six years and below as of this year will qualify for the top-up, the Ministry of Finance (MOF) and Ministry of Social and Family Development (MSF) said in a joint statement on Friday (Aug 27).
"This top-up is part of the Household Support Package announced at Budget 2021 to provide families with additional support for their child-raising expenses," the ministries said.
Eligible parents will receive notifications informing them of the successful top-up.
Parents who have yet to open a CDA must do so by Jun 30, 2022 for their children to receive the money, added the ministries.
Singaporean children aged seven to 20 received a similar S$200 top-up to their Edusave account or Post-Secondary Education Account (PSEA) in May this year.
Funds in the CDA can be used for education and healthcare needs, such as at registered childcare centres, kindergartens, special education schools, providers of early intervention programmes, providers of assistive technology devices, hospitals, clinics, pharmacies, and optical shops.
The full list of approved institutions can be found online.