SINGAPORE: From more support for families to a possible undersea tunnel to Pulau Tekong, Prime Minister Lawrence Wong made several announcements in this year’s National Day Rally.
He unveiled a slew of measures to help those looking to start families as well as couples with children.
“No other institution can replace the family. That is why nothing matters more than helping families thrive,” he said.
Here are seven key takeaways from his speeches.
1. Almost S$70,000 in support for each child
Every Singaporean child will receive almost S$70,000 (US$55,140) in support from birth to the age of 17.
A new SG Child Support Package kicks in on Apr 1, 2027, replacing the financial support currently provided through the Baby Bonus Scheme and Large Families Scheme.
Children will get the same level of support regardless of their birth order, and kids in single-parent families will also enjoy the full benefits of the scheme.
In the baby’s first year, there will be a S$10,000 cash gift and S$5,000 MediSave Grant for Newborns.
Newborns also get a S$5,000 First Step Grant in the Child Development Account (CDA).
From the age of one to 16, the government will co-match up to S$5,000 in CDA top-ups. The child will also get S$2,000 in Child Credits annually.
Students receive Edusave contributions throughout primary and secondary school.
When the child turns 17, a S$10,000 top-up will be made to the Post-Secondary Education Account.
Large families with three or more children will get additional help in areas where they are likely to face higher costs, such as healthcare, transport and housing.
Discover more from PressNewsAgency
Subscribe to get the latest posts sent to your email.