Friday, February 25, 2011

Opening Child Development Account

Managed to find information from the Speech on CDA account. We need to ensure that we receive letter from MCYS by June 2011. Til then, no CDA account for my son...


Extracted from Singapore Budget Speech 2011,
ANNEX B-1: CHILD DEVELOPMENT CREDIT
  • The payout for the Child Development Credit will start in July 2011.
  • MCYS will send letters to parents of eligible children to notify them by June 2011.

Quanta of Child Development Credit:
Annual Value of Home in 2010* Child Development Credit
Up to $13,000 $400

More than $13,000 $300


*As at 31 Dec 2010. HDB flats and some private residences have annual values of less than $13,000.

More details at http://www.singaporebudget.gov.sg/budget_2011/budget_speech.html

Thursday, February 24, 2011

Bad Comms/Information from MCYS

I went to the bank today with my hubby, wanting to open a Children Development Account (CDA) for our son to receive the child development credits. We were rejected by the bank officers. They told us that there were no instructions from MCYS that we could just walk into one of the 2 designated banks and do so.

We were told that we would need a letter from MCYS to inform us that our son is eligible to open an account before they allow us to do so.

*Angry* It was not stated anywhere on their website that we need to wait for the letter. They only mentioned the following:

Where will the Credits be paid to?

The Child Development Credits will be paid into the Children Development Account (CDA). For those who do not currently have CDAs, they will be able to open the CDAs to receive their Credits.

Why don't they state so earlier. I am quite sure that many parents like us, must had faced with this inconvenience due to their poor communications to the public.

So, please all wait for the letter from MCYS before going to the any 2 designated banks to open the Children Development Account (CDA) for your kids.

Wednesday, February 23, 2011

Child Development Credits

This is good news for all with children aged six and below. According to the budget 2011 announcements, the government is giving Child Development Credits. Please read the following announcements below.




The government is introducing a new Child Development Credits scheme to all Singaporean children aged six and below (born from 1 Jan 2005 to 31 Dec 2011), to help families with young children meet their expenses.

The government will give Child Development Credits from time to time to share surpluses. This is similar to the way that the government provides top-ups to Edusave accounts for school-going children and to Post-Secondary Education Accounts (PSEA) for students to use when they go on to tertiary education.

What can the credits be used for?

The Child Development Credits can be used to pay for a child’s or his/her siblings’:

  1. Fees at Approved Institutions which have registered with MCYS under the Baby Bonus Scheme:

    1. Child care centres;
    2. Kindergartens and special education schools registered with the Ministry of Education (MOE) or the Council for Private Education;
    3. Early intervention programmes registered with the National Council of Social Service (NCSS) or the Centre for Enabled Living (CEL); and
    4. Healthcare institutions licensed under the Private Hospitals and Medical Clinics (PHMC) Act.
  2. Medishield or Medisave-approved private integrated plans.

How much will children be getting?

The quanta of Child Development Credits will be tiered according to the Annual Value of the child’s home, as at 31 December 2010.

Children living in properties with an Annual Value of up to $13,000 will receive $400, while children living in properties with an Annual Value of more than $13,000 will receive $300.

Where will the Credits be paid to?

The Child Development Credits will be paid into the Children Development Account (CDA). For those who do not currently have CDAs, they will be able to open the CDAs to receive their Credits.1

More details will be available at a later date.

More Questions?

Have more questions? Check out Frequently Asked Questions.

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1The usage and withdrawal of the Child Development Credits will be subject to the current approved usage and withdrawal under the Children Development Co-Savings Act. The usage and withdrawal of the Child Development Credits will be subject to the current approved usage and withdrawal under the Children Development Co-Savings Act. Children who are not currently eligible for CDAs but are opening an account solely to receive the Child Development Credits will not receive matching government contributions for deposits made into the accounts.

Monday, February 21, 2011

Teach Kids To Play The Recycle Way!

The everyday toy sets you buy on the store shelves are great, but imagine expanding them to be even more educational and interesting to your child. Use everyday recycled materials and objects with toys and educate your kid on the importance of environmental friendly.

If you incorporate recycle play with regular toys kids will learn to be inventive, creative and think green. So, the next time you pull out Legos, Matchbox or Playmobile, why not consider adding some recycle materials to the mix, as well as, throw in a lesson on Earth?

Check out the website below, it gives the tips on how to make use of everyday recycled materials and objects to make toys.

Planetpals Recycle Play

So long... Will need to see how to build a school for my kid's next week assignment. :P