The Ultimate Guide: Baby Bonus in Singapore ( Payout, Schedule, CDA)
S$14,425 is the amount we are looking at, on average when we talk about the cost of delivering a baby.
In an attempt to boost Singapore’s birth rates, the government launched The Baby Bonus scheme to encourage more babies amongst Singaporeans.
What is wrong with Singapore’s birth rate?
The number of babies born to Singaporean parents in the year 2017 is one of the lowest Singapore has ever experience.
The fertility rate for Singapore is low, at 1.14 as of the year 2018. The fertility rate is defined as the number of children born per woman.
According to the UN, Population Division, 2.1 children per woman is known as the Replacement-level of fertility. Any number below 2.1 will mean a decrease in population size.
Since it takes “two hands to clap”, a birth rate of 1.14 for each couple generally means that the population will decline drastically by close to 50% with each passing generation.
TL;DR: Make More Babies, Here Are The Benefits Of Baby Bonus!
Without sounding too much like a government campaign, here are the details that Singaporeans need to know with regards to the baby bonus
|Birth Order||Cash Gift|
(inclusive of $2,000 baby bonus plus)
|CDA Benefits||Total Baby Bonus Received|
|CDA Final Step Grant||Dollar-for-Dollar Matching Cap|
|1st and 2nd Baby||S$8,000||S$3,000||Up to $3,000||Up to $14,000|
|3rd and 4th Baby||S$10,000||Up to $9,000||Up to $22,000|
|5th Baby and Higher||S$10,000||Up to $15,000||Up to $28,000|
Source: Ministry of Social and Family Development
- The first and second baby can receive up to S$14,000 in terms of Baby Bonus
- The third and fourth will receive up to S$22,000.
- The fifth baby onwards can receive up to S$28,000 in terms of Baby Bonus
Editor’s note: Seedly does not do sponsored post. This is purely for your reference. Seedly wants to do our part for the ageing population.
Step-By-Step Guide To Receiving Your Baby Bonus
To be eligible, the parents of the baby has to be:
- Lawfully married
- The baby is a Singapore Citizen at the time of birth
Here are some tools to help you with your Baby Bonus Application:
- One can submit an online form to join the Baby Bonus scheme as early as 2 months before the estimated delivery date.
- To check if the child is eligible for Baby Bonus cash gift and/or CDA benefits, one can use the Eligible Check Tool.
- Should you have any other question after the article, do ask the Seedly’s Community or call the Baby Bonus Hotline at 1800-253-7707
Baby Bonus Cash Gift Schedule and Payout
Upon the birth registration of your baby or the completion of the baby bonus form online, one can expect to receive the cash gift portion of the baby bonus within 7 to 10 working days.
|Baby Bonus Cash Gift||Baby Bonus Plus|
|Birth Order||Within 10 Working Days||Around 6 Months||Around 12 Months||Around 15 Months||Around 18 Months|
|First and Second||$3,000||$1,500||$1,500||$1,000||$1,000|
|Third and Above||$4,000||$2,000||$2,000||$1,000||$1,000|
Source: Ministry of Social and Family Development
Child Development Account (CDA)
On top of the more direct cash gift payout, eligible Singaporean baby will be able to enjoy a special savings account called the Child Development Account (CDA).
This account will be opened automatically when the baby joins the Baby Bonus Scheme.
One will also be able to select the CDA bank between DBS, OCBC or UOB.
CDA First Step
- All Singaporean children born from 24th March 2016 onwards will receive an initial $3,000 grant in their CDA.
Government dollar-for-dollar matching contributions
- If you deposit $1,000 into the CDA, the government will give you an additional $1,000 the next month. (Up to $15,000)
Here’s how much one can get out of CDA:
|Child Order||CDA Benefits||Total CDA Benefits|
|CDA First Step||Dollar-for-dollar Matching|
|1st & 2nd child||$3,000||Up to $3,000||Up to $6,000|
|3rd & 4th child||Up to $9,000||Up to $12,000|
|5th child & subsequent||Up to $15,000||Up to $18,000|
The CDA account can be kept open until your child is 12 years old, so use those all those years to save up the amount necessary to bag you the entire bonus.
Maximising the benefit of a Child Development Account (CDA) depends a lot on the contribution from the parents due to the dollar-to-dollar matching.
Parenthood Tax Rebate (PTR)
One other benefit is the Parenthood Tax Rebate (PTR). This benefit includes single parents and parents who adopted a child.
To qualify for PTR, one needs to be a Singapore tax-paying resident, who is either married, divorced or widowed in the relevant year.
Here’s the amount of tax rebate one can enjoy:
|Order Of Child|
(Child born in the year 2004 to 2007)
(Child born from the year 2008 onwards
|5th and subsequent child||$0||$20,000 per child|
Further Reading: Baby Bonus For Single Parent
In Singapore, unwed mothers do not get to enjoy the maximum Baby Bonus.
This is extremely worrying, given that single parents are usually the ones that require more assistance.
For single parents in Singapore, they are:
- Disqualified from the Baby Bonus Cash Gift Component as a whole.
- Qualified for the full CDA Bonus package which is:
Child Order CDA Benefits Total CDA Benefits CDA First Step Dollar-for-dollar Matching 1st & 2nd child $3,000 Up to $3,000 Up to $6,000 3rd & 4th child Up to $9,000 Up to $12,000 5th child & subsequent Up to $15,000 Up to $18,000
Editor’s Note: We would like to express our respect for single parents, it is definitely not an easy task! Hustle on!