![]() Visit the Ministry of Social and Family Development’s Approved Institution webpage for the full list of organisations where the CDA savings can be usedĪny savings left in the CDA after the year your child turns 12 will be transferred to his or her Post-Secondary Education Account*. Approved healthcare items at pharmacies.Eye-related products and services at optical shops.Premiums for MediShield Life or MediSave-approved private integrated plans.Medical expenses at healthcare institutions such as hospitals and General Practitioner clinics.Fees for registered childcare centres, kindergartens, special education schools and early intervention programmes. ![]() The savings in the account can be used for: The Government has increased theĬo-matching cap by $1,000 for children in the first and second birth orders.You can save into and use the CDA at any time before 31 December of the year your child turns 12 years old. Government co-matching of parents’ savingsĮnjoy dollar-for-dollar matching from the Government when you save into your child’s CDA, up to the Government co-matching cap. The CDA First Step Grant will be automatically deposited when you open the CDA for your child at any of the following banks: DBS/POSB, OCBC or UOB. The Government has enhanced the CDA by increasing the CDA First Step Grant by $2,000 (from $3,000 to $5,000) for children in all birth orders. The First Step Grant is deposited into the CDA without you having to save first, and your subsequent savings will beĬo-matched by the Government, up to a cap.Ĭhild Development Account First Step Grant The Child Development Account (CDA) is a special savings account for your child. Note: Children born from 14 February 2023 would have received the first disbursement of their BBCG at birth. *The figures in bold reflect post-enhancement amounts, with changes from current quantum indicated in parentheses.
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