ASEAN KEY DESTINATIONS
Singapore reviews Baby Bonus
The Singapore government is undertaking another review of the Baby Bonus scheme which hopes to encourage married couples to have more children by defraying part of the financial costs.
A survey with some 3,000 beneficiaries is in the works. The move comes at a time when Singapore's fertility rate is at a record low.
Observers have said that more comprehensive provisions should be made, to reverse the declining trend.
Under the Baby Bonus scheme, parents are given a cash gift of up to S$4,000 each for the first and second child and S$6,000 each for the third and fourth child.
The government also gives a dollar-for-dollar match when parents contribute to their child's Children Development Account (CDA). The savings will be matched up to the cap of S$6,000 each for the first and second child, S$12,000 each for the third and fourth child and S$18,000 each for the fifth and subsequent child. Parents can tap on the scheme when they register for their child's birth at hospitals and the Immigration & Checkpoints Authority (ICA).
The Baby Bonus scheme was introduced in 2001 to encourage more Singaporeans to have babies but still, the country's fertility rate remains low. The Community Development, Youth and Sports Ministry said it will carry out a survey between April and June this year, targeting parents who have benefited from the Baby Bonus. The aim is to find out how satisfied they are with how the scheme is being implemented.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below