$250 top-up to CDAs of 1,300 pre-schoolers

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Oct 09, 2020 06:00 am

From November, about 1,300 pre-schoolers from low- income families will receive a $250 top-up to their Child Development Account (CDA) through a partnership between the Ministry of Education, the EtonHouse Community Fund and the Community Foundation of Singapore.

In a statement yesterday, the partners said the Government will match these contributions dollar-for-dollar, up to each child's account contribution cap.

The top-ups will continue over the next two years, meaning that eligible children can receive up to $500 a year, adding up to a maximum total of $1,500 in top-ups.

To be eligible, children must be Singaporeans enrolled in a pre-school under seven selected operators, and their families must have a gross monthly household income of $4,500 or less.

They must also be receiving the Government's Additional Subsidy for their pre-school fees as at July this year.

The money in the CDA can be used to defray child-raising expenses such as pre-school fees and medical bills at Baby Bonus Approved Institutions, including childcare centres, kindergartens and hospitals. - THE STRAITS TIMES