When 2 Kids is not enough
Do you remember seeing these posters? I used to see them everyday, as I was growing up Singapore in the 1970s.
But times have changed…and with a Pro-child policy in Singapore, it is a win-win situation to have children!
One of the Perks about living in Singapore is that the government is willing to help lighten the financial costs of bringing up a child.
Just the other day, I was asked by a friend, how much does the government give us in terms of “Baby Bonus” for having a child.
With 3 Kids, I am supposed to be an expert…Unfortunately this Daddy has to look at the MCYS website to remember the figures…:)
Anyway these are the benefits in store for you:
Your child will enjoy these benefits under the Baby Bonus Scheme from birth till his sixth birthday. The total Baby Bonus benefits are shown in Table 1.
Therefore, in order to maximize your benefits, DO NOT stop at 1 child. Go for the 2nd child and more.
How does the money come?
Er…Don’t expect the stock to bring your Ang-Pow when the baby arrives at the hospital?
When I first became a parent, I thought that I would receive the money in a week’s time.
However, the cash gift is given in 4 is given out in 4 equal installments over 18 months from the birth of your child so that you can use the cash for new expenses arising from your newborn.
Above that, you would still get an ADDITIONAL maximum matching government contribution for your child’s Children Development Account (CDA)! Woopee!
To get the full story, go to this week’s article at Maybe Baby
And before I go…Don’t forget to Vote for me At the Singapore Blog Awards.
Each Person can vote once a day!
June 7th, 2010 at 10:06 am
Thanks for the info!
But one thing confusing. How does the matching dollar for dollar works? Say I open a Stand Chart acc with my baby name and mine, I dump $6K inside. Will the gov top up $6K immediately?
June 7th, 2010 at 1:15 pm
Yes!
They will match the dollor for dollar scheme by the end of the month. The cash gift is the one that comes in installments
June 7th, 2010 at 10:57 am
LOL! I hesitated a bit on clicking that link when I saw your blog post title. So scary…
June 7th, 2010 at 1:10 pm
Haha….Maybe in 30 years time, conception can happen at a click at a button.
Click Yes to confirm
June 7th, 2010 at 2:56 pm
Haha! I will choose “Err, lemme think about it a bit more first.”
June 7th, 2010 at 3:26 pm
LOL!
June 7th, 2010 at 10:38 pm
yo Ed, go for two more, and u hit $18k !! Maybe u lucky get twins …
June 7th, 2010 at 11:39 pm
Haha,,,I got my hands full already
June 8th, 2010 at 10:57 am
hahaha. how did you managed to find the posters?
I was just mentioning them to a Malaysian friend the other day, saying that the “Two is enough” campaign was so successful that it etched sooooo deep into Singaporeans’ minds.
when I tell people I’m expecting a girl, 1st one’s a boy, they immediately tell me that I can stop already!
My husband is a 3rd child and is (yah, still IS) very disturbed by these posters cos he is the EXTRA.
hmm… think I should blog about this too…
June 8th, 2010 at 3:53 pm
haha…the thing about your husband is quite funny!
Found the posters on the internet!
December 15th, 2010 at 10:37 am
The poster is really a trip down memory lane. and thanks for the chart on benefits of baby bonus!
December 17th, 2010 at 10:08 am
Glad u liked it