Children Development Co-Savings (Baby Bonus) Scheme
The Baby Bonus Scheme, first introduced in April 2001, now also benefits the 1st and 4th child born on or after 1 August 2004. Parents will get a $3,000 cash gift for the 1st child; a cash gift and co-savings of up to $9,000 for the 2nd child; and up to $18,000 each for the 3rd and 4th child.
The Government will match dollar-for-dollar the amount of savings parents contribute to the child’s Children Development Account. This is a special savings account that the parent (Trustee) opens at any POSB branch after joining the scheme.
The funds available in the Account may be used to pay for fees at licensed child care centres and MOE-registered kindergartens and special education schools that are registered as Approved Institutions. The money may be used by all their children who are attending Approved Institutions.
Children on the Baby Bonus Scheme before 1 August 2004
If the child is already on the Baby Bonus Scheme, parents do not need to wait till the 6th year to get the balance of the cash gift from Government. They will be informed by post when to expect the payment. The co-savings periods and dates of matching Government contribution will not be affected.
I was like jumping when I read this...Parents will get a $3,000 cash gift for the 1st child..Power kan???!! hehe.. So those married, quick have a baby...hehehe..
It was raining the whole day...Cuaca sungguh malap sekali... Around 2 plus, I went out to the shop to buy some toiletries & some grocceries... When I reached home, I was feeling out of breath...Ni perut blom besar lagi, kalau dah besar, cam mana lah agaknya bila gi kedai..hehe
Anyway today I didn't have to cook as yesterday's lauk still got a lot more...So I just fried some taugeh (with the kucai & tahu plus ikan kering)....
Laid out hubbie's dinner....At 7pm, watched the Chinese Drama... Now I'm gonna read up some articles abt pregnancy... So will be back again tomoro.... Byee!!!!
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