Cynthia Chan (Ms) · Did you know that your child may qualify for Baby Bonus? The Baby Bonus helps...

C ynthia C han (M s)

We warmly welcome the birth of your newborn child.

Did you know that your child may qualify for Baby Bonus?

The Baby Bonus helps lighten the cost of raising your child. You can receive a cash gift and open a Child Development Account (CDA) to receive Government contributions in the CDA.

Please take some time to read through this Baby Bonus booklet. For more information, visit www.babybonus.msf.gov.sg/parent.If you need assistance, please call our hotline at 18002537707.

We wish you a joyful and fulfilling parenthood journey ahead.

C ynthia C han (M s)

We warmly welcome the birth of your newborn child.

Did you know that your child may qualify for Baby Bonus?

The Baby Bonus helps lighten the cost of raising your child. You can receive a cash gift and open a Child Development Account (CDA) to receive Government contributions in the CDA.

Please take some time to read through this Baby Bonus booklet. For more information, visit www.babybonus.msf.gov.sg/parent.If you need assistance, please call our hotline at 18002537707.

We wish you a joyful and fulfilling parenthood journey ahead.

CDA First Step Grant Co-matching of CDA deposits

CDA First Step of $3,000 + Government Dollar-for-dollar Matching on CDA savings

CDA First Step

given in the CDA

Step 1:

Parent save in the CDA

Step 2:

We will match it!

Step 3:

Baby Bonus Benefits at a Glance

CDA First Step Grant Co-matching of CDA deposits

CDA First Step of $3,000 + Government Dollar-for-dollar Matching on CDA savings

CDA First Step

given in the CDA

Step 1:

Parent save in the CDA

Step 2:

We will match it!

Step 3:

Baby Bonus Benefits at a Glance

2nd payment around 6

months old

3rd payment around 12 months old

$3,000 $1,500 $1,500

$2,000

4th payment around 15 months old

For children born on or after 24 March 2016:

1 & 2 Chil $8,000

$3,000

Up to $3,000 Up to $14,000

3rd & 4th Child

$10,000 Up to $9,000 Up to $22,000

5th Child and higher $10,000 Up to $15,000 Up to $28,000

Table 1 :

Table 2 :

1st payment within 10

working days

Baby Bonus Benefits

1st & 2nd Child

$8,000

$3,000

Up to $3,000 Up to $14,000

3rd & 4th Child $10,000 Up to $9,000 Up to $22,000

$10,000 Up to $15,000 Up to $28,000

(Inclusive of $2,000 Baby Bonus Plus)

CDA First Step Grant

Dollar-for-Dollar Matching Cap

5th Child & higher

3rd Child & higher

1 From joining the Baby Bonus Scheme or after child’s birth registration (whichever is later).

More information on Baby Bonus benefits for children born before 24 March 2016 can be found on Baby Bonus Online (www.babybonus.msf.gov.sg/parent).

i) Cash Gift

The Baby Bonus cash gift helps to defray the cost of raising and caregiving for your newborn child during the early years.

You will receive the cash gift according to this schedule:

Birth OrderCash Gift CDA Benefits

Total Baby Bonus Benefits

Baby Bonus Cash Gift Baby Bonus Plus

Birth Order

$4,000 $2,000 $1,000

$1,000 $1,000

$1,000

ii) Child Development Account (CDA)

The CDA is a special savings account for your child. It will opened automatically when the child successfully joins the

Baby Bonus Scheme.

We will contribute to the CDA in the form of a CDA First Stepgrant of $3,000 plus dollar- for-dollar matching when you

Government matches your

CDA contributions within 2 weeks

Your child’s savings is multiplied

You can save in the CDA anytime

before 31 December of the year your child

turns 12

Government grants CDA First Step into CDA

save in the CDA.

2nd payment around 6

months old

3rd payment around 12 months old

$3,000 $1,500 $1,500

$2,000

For children born on or after 24 March 2016:

1 & 2 Chil $8,000

$3,000

Up to $3,000 Up to $14,000

3rd & 4th Child

$10,000 Up to $9,000 Up to $22,000

5th Child and higher $10,000 Up to $15,000 Up to $28,000

Table 1 :

Table 2 :

1st payment within 10

working days

Baby Bonus Benefits

1st & 2nd Child

$8,000

$3,000

Up to $3,000 Up to $14,000

3rd & 4th Child $10,000 Up to $9,000 Up to $22,000

$10,000 Up to $15,000 Up to $28,000

(Inclusive of $2,000 Baby Bonus Plus)

CDA First Step Grant

Dollar-for-Dollar Matching Cap

5th Child & higher

3rd Child & higher

1 From joining the Baby Bonus Scheme or after child’s birth registration (whichever is later).

More information on Baby Bonus benefits for children born before 24 March 2016 can be found on Baby Bonus Online (www.babybonus.msf.gov.sg/parent).

i) Cash Gift

The Baby Bonus cash gift helps to defray the cost of raising and caregiving for your newborn child during the early years.

You will receive the cash gift according to this schedule:

Birth OrderCash Gift CDA Benefits

Total Baby Bonus Benefits

Baby Bonus Cash Gift Baby Bonus Plus

Birth Order

$4,000 $2,000 $1,000

$1,000 $1,000

$1,000

ii) Child Development Account (CDA)

The CDA is a special savings account for your child. It will opened automatically when the child successfully joins the

Baby Bonus Scheme.

We will contribute to the CDA in the form of a CDA First Stepgrant of $3,000 plus dollar- for-dollar matching when you

Government matches your

CDA contributions within 2 weeks

Your child’s savings is multiplied

You can save in the CDA anytime

before 31 December of the year your child

turns 12

Government grants CDA First Step into CDA

save in the CDA.

At Baby Bonus Approved Institutions (AIs)2

CDA funds can be used for approved expenses only. They cannot be withdrawn in cash.

For medical insurance: Medishield Life or Medisave-approved plans

2 Please visit our website for the full list of AIs.

If your answer is “Yes” to all of the above questions, your child qualifies

for Baby Bonus!

(If your child is born before 24 March 2016, he or she may also be eligible

for Baby Bonus. You can visit Baby Bonus Online to find out more about

the eligibility criteria)

1. Is your child’s birth date or estimated date of delivery on or after 24 March 2016? 3

A checklist to find out if your child qualifies:

At Baby Bonus Approved Institutions (AIs)2

CDA funds can be used for approved expenses only. They cannot be withdrawn in cash.

For medical insurance: Medishield Life or Medisave-approved plans

2 Please visit our website for the full list of AIs.

If your answer is “Yes” to all of the above questions, your child qualifies

for Baby Bonus!

(If your child is born before 24 March 2016, he or she may also be eligible

for Baby Bonus. You can visit Baby Bonus Online to find out more about

the eligibility criteria)

1. Is your child’s birth date or estimated date of delivery on or after 24 March 2016? 3

A checklist to find out if your child qualifies:

Fill in the online form and provide:

Personal information of your child and you: -

Bank account details of the person to receive the cash giftSelected CDA bank and the person who will manage the CDA (i.e. CDA trustee)

(If you are not the CDA trustee, the trustee must log in to accept the CDA

attach supporting documents, if applicable (e.g. citizenship certificate, adoption order)

Fill in the online form and provide:

Personal information of your child and you: -

Bank account details of the person to receive the cash giftSelected CDA bank and the person who will manage the CDA (i.e. CDA trustee)

(If you are not the CDA trustee, the trustee must log in to accept the CDA

attach supporting documents, if applicable (e.g. citizenship certificate, adoption order)

[www.babybonus.msf.gov.sg/parent]

Your child must join the Baby Bonus Scheme before 31 December of the year they turn 12.

Both parents will need to agree on who should receive the cash gift (i.e. Bank Account Holder) and manage the CDA (i.e. CDA

trustee). A parent who has either:

i) custody, care and control; or ii) care and control of the child by a Court Order

can appoint the bank account holder and/or CDA trustee without the consent of the other parent.

The CDA trustee has to be at least 18 years old and not a bankrupt.

Your child’s birth order is pegged to the birth mother. Non-Singaporean children, stepchildren and children given up for adoption will not be counted in the birth order.

The cash gift and Government contributions to the CDA will be pro-rated if both parents are not Singaporeans at the point of the child’s birth. The amount of pro-ration will depend on the date that the child becomes a Singaporean.

CDA First Step grant will be automatically credited to the eligible child’s CDA. Parents can continue to save in the CDA to enjoy dollar-for-dollar matching by the Government, up to the respective caps (see Table 1 in pg 5).

CDA funds cannot be withdrawn in cash. When the CDA is closed at the end of the year the child turns 12, any unused CDA balance will be transferred to the child’s Post-Secondary Education Account (PSEA). Parents can continue to save in the PSEA if they have not saved up to the CDA cap for Government matching contributions.

Please visit Baby Bonus Online (www.babybonus.msf.gov.sg/parent) for the full Terms and Conditions.