Singapore has announced a massive child support package that will see eligible families receive benefits worth nearly N94 million for every child born, in a major move aimed at easing the cost of raising children and encouraging more births.
Prime Minister Lawrence Wong unveiled the S$62,000 SG Child Support Package during his National Day Rally speech on August 23, promising a new era of stronger government backing for families.
Under the scheme, every eligible Singaporean child will receive support from birth until age 17, with benefits including a S$10,000 cash Baby Gift, S$32,000 in Child Credits, a S$5,000 Child Development Account (CDA) grant, up to S$5,000 in government matching funds, and a further S$10,000 boost for post-secondary education.
When existing benefits such as the S$5,000 MediSave Grant for newborns and annual Edusave contributions are added, the total support package rises to about S$70,000 (approximately N94 million) per child.
Wong said the government was moving beyond small adjustments to create a simpler and more equal system for families.
“The work is still ongoing. We are aiming for more than incremental improvements or changes to individual schemes. We want to make a fundamental shift in how we support families,” he said.
According to the Prime Minister, the previous system had become too complicated, making it difficult for parents to understand the benefits available to them.
“The schemes have become quite complex, and many parents find it hard to understand,” Wong said.
“We will make things simpler. Every child will receive the same level of support. We will provide more support not just at birth but throughout the years, as children grow up.”
The new package is expected to benefit more than 610,000 children from about 380,000 households.
The S$10,000 Baby Gift will be paid in two instalments during the child’s first year, while the S$32,000 Child Credits will provide S$2,000 annually from the child’s first birthday until age 16.
A further S$10,000 will be deposited into the child’s education account when the child turns 17.
The latest move comes as Singapore battles a declining birth rate, with the government increasing financial support in a bid to make parenthood more affordable.
“We are putting real resources behind all of these plans because supporting families and Singaporeans through every stage of life is a national priority,” Wong added.
Don’t Miss Out! Join our WhatsApp Channel for instant news updates. Click here to join
ALSO READ:
Canada Targets Skilled Workers: 1,000 Receive Invitation To Become Permanent Residents
