Politics · Singapore Bureau
Singapore families urged to maximise government childcare and parenting support schemes
With multiple government benefits available to parents, financial experts say many families are not fully utilising schemes designed to ease the cost of raising children. The programmes include cash gifts, annual credits and childcare subsidies that can significantly reduce household expenses.
LSN Singapore ·
Singapore offers several government schemes aimed at supporting parents with young children, yet many families are not taking full advantage of the available benefits, according to financial advisors. The schemes include the Baby Bonus Gift, annual Child Development Credits and subsidised childcare programmes that collectively represent substantial financial assistance. Experts recommend parents review their eligibility and actively claim these entitlements to improve household finances. The Baby Bonus Gift provides cash to registered parents upon the birth of each child, with additional amounts for subsequent children. Coupled with annual Child Development Credits that accumulate in dedicated accounts, these funds can be directed towards childcare fees, education expenses and other approved purposes. Beyond direct cash transfers, parents can also tap childcare subsidies that significantly reduce the cost of infant care and preschool services at licensed centres. Financial advisors say the cumulative value of these programmes, if properly utilised, can free up considerable household resources. Eligible families are encouraged to register for all applicable schemes and monitor their account balances to ensure benefits are deployed effectively towards their family's needs.