Financial Products to Protect Special Needs Children and Their Families

Ms Rahayu Mahzam asked the Minister for Social and Family Development whether there has been a review of the sufficiency and availability of financial products that can protect special needs children and their families.

There is a range of financial services and schemes available to special needs children and their families.

MSF set up the Special Needs Trust Company, or SNTC, about 10 years ago to better support caregivers in planning for financial and care arrangements for their loved ones upon the caregiver's demise. SNTC is a not-for-profit trust company that provides subsidised trust services. The social workers at SNTC work together with the caregivers to develop a care plan and estimate the amount of funds to set aside for the long-term care of their loved ones. The care plan takes into account the care, medical and accommodation preferences of the beneficiaries and their caregivers.

Apart from administering the trust services, SNTC also administers the Special Needs Saving Scheme (SNSS) developed by MSF in partnership with the Central Provident Fund Board (CPFB). Under the SNSS, caregivers can nominate their loved ones to receive monthly disbursements from their CPF savings after their demise.

Caregivers can also consider other financial instruments such as regular savings plans and insurance products to build a financial safety net for their dependents. One example is the Dependants' Protection Scheme (DPS), a term insurance scheme provided by CPF Board that is automatically extended to eligible CPF members. The DPS benefit will be paid out if the insured caregiver passes away or suffers from terminal illness or total permanent disability.

Persons with disabilities can also benefit from the following:

(a) CareShield Life – which provides universal coverage to all Singaporean Citizens and Permanent Residents born in or after 1980 from mid-2020, to ensure basic protection of long-term care needs for our future generations, including those with pre-existing disability. Coverage starts from 30 years old, and monthly payouts are provided as long as one is severely disabled.

(b) Home Caregiving Grant – which provides a $200 monthly cash payout to offset the caregiving costs of eligible persons who always require some assistance to perform three or more Activities of Daily Living (ADLs). Families can contact the Agency for Integrated Care (AIC) if they would like to apply for this grant.

(c) Other Government subsidies – which help ensure the affordability of essential services and products utilised by persons with disabilities, which include early intervention, special education, day care, residential care, assistive technology devices and transportation. Low-income families pay minimal or no out-of-pocket fees, with government subsidies to cover their expenses. For those who are unable to afford the out-of-pocket fees, social workers from Social Services Agencies (SSAs) help to look into their financial situation. The SSAs may further subsidise persons with disabilities through donations raised by their organisations.

Persons with disabilities can also tap on MediShield Life, a basic health insurance plan that protects all Singapore Citizens and Permanent Residents against large hospital bills for life, regardless of age or health conditions.

There are many persons with disabilities who are capable of finding work on their own, and living independently. Some may require a little more support to find employment. To this end, MSF set up SG Enable in 2013 to enhance the employability of persons with disabilities and increase employment options for them. SG Enable works closely with SSAs to support persons with disabilities in finding employment, through its job placement and job support services provided by job coaches. This helps to empower and enable them to live more independently.

Persons with disabilities and caregivers can refer to the SG Enable website at www.sgenable.sg and the Enabling Guide at www.enablingguide.sg for more information on such schemes and services.