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More than 500,000 young Singaporeans to receive S$200 Edusave or PSEA top-up

More than 500,000 young Singaporeans to receive S$200 Edusave or PSEA top-up

File photo of students at Temasek Primary School. (Photo: Facebook/Chan Chun Sing)

SINGAPORE: About 540,000 Singaporeans aged between seven and 20 in 2022 will each receive a one-off top-up of S$200 to their Edusave account or Post-Secondary Education Account (PSEA) next month.

“This top-up is part of the Household Support Package announced at Budget 2022 to provide families with additional support for their children’s education-related expenses,” the Ministry of Finance (MOF) and Ministry of Education (MOE) said in a joint statement on Friday (Apr 29).

It is in addition to the annual Edusave contribution that the Government makes.

Edusave and PSEA funds can be used to pay for approved fees and enrichment programmes.

The top-ups will be credited directly into Edusave accounts and PSEAs by the end of May, with no action required from recipients.

Parents of eligible recipients will receive e-notifications via their SingPass app, informing them of the successful top-up by the end of next month. Parents without the SingPass app will be notified through SMS.

Source: CNA/aj(mi)

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