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.
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