Singapore Children Who Do Not Have Child Development Accounts

Debated in Parliament on 21 Oct 2013.

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Tin Pei Ling inquired about the number of Singaporean children without a Child Development Account (CDA), the reasons parents do not set them up, and what support the Government can offer low-income families.
Minister Chan Chun Sing reported that, since the Baby Bonus scheme began in 2001, about 3% of earlier cohorts (2,600 children) did not open a CDA, while 7% of later cohorts (14,000 children) have yet to do so, with take-up rates expected to increase as parents have more time to open accounts.
The Minister noted that some parents do not open CDAs due to perceived financial constraints or lack of awareness, and the Government is expanding outreach through community channels and recent exercises to encourage more families to sign up.

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Tin Pei Ling

Ms Tin Pei Ling asked the Minister for Social and Family Development (a) how many Singaporean children currently do not have a Child Development Account (CDA); (b) what are the reasons for parents not setting up CDAs for their children; and (c) what support can the Government offer to parents who have no or have very low income so that their children will not be disadvantaged.

Chan Chun Sing

The Baby Bonus scheme was launched in 2001. To date, 280,000 CDAs have been opened for Singaporean children. The earlier cohorts, for children born between 2001 and 2005, had six years to open the CDAs. The take-up rate was 97%. In other words, 2,600 children, or 3%, did not open a CDA.

A change was made so that parents from the 2006 cohort onwards would have a longer period of time, that is, 12 years, to open the CDAs. The take-up rate for these subsequent cohorts thus far is 93%. About 14,000 children from these cohorts have yet to open a CDA. We are confident that the take-up rate will increase further as parents tend to wait a number of years before opening the CDAs.

There are various reasons why some parents do not open a CDA at all. Some may not have, or think that they do not have enough money to set aside in the CDA. Others are unaware of the scheme, its benefits or the procedure for opening an account.

My Ministry will continue to extend our outreach to families who have yet to open their CDAs. For example, we recently conducted an outreach exercise

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to low-income families. I am heartened that 40% of those we reached have since signed up for the CDA. We will also work through touch points such as Community Development Councils, Social Service Offices and Family Service Centres, to raise greater awareness and to encourage more families to open CDAs for their children.

Summary written by AI (learn more)

Tin Pei Ling inquired about the number of Singaporean children without a Child Development Account (CDA), the reasons parents do not set them up, and what support the Government can offer low-income families.
Minister Chan Chun Sing reported that, since the Baby Bonus scheme began in 2001, about 3% of earlier cohorts (2,600 children) did not open a CDA, while 7% of later cohorts (14,000 children) have yet to do so, with take-up rates expected to increase as parents have more time to open accounts.
The Minister noted that some parents do not open CDAs due to perceived financial constraints or lack of awareness, and the Government is expanding outreach through community channels and recent exercises to encourage more families to sign up.

Questions identified by AI (learn more)

Singapore Children Who Do Not Have Child Development Accounts | PAPERCUTS

Singapore Children Who Do Not Have Child Development Accounts

Debated in Parliament on 21 Oct 2013.

Summary written by AI (learn more)

Tin Pei Ling inquired about the number of Singaporean children without a Child Development Account (CDA), the reasons parents do not set them up, and what support the Government can offer low-income families.
Minister Chan Chun Sing reported that, since the Baby Bonus scheme began in 2001, about 3% of earlier cohorts (2,600 children) did not open a CDA, while 7% of later cohorts (14,000 children) have yet to do so, with take-up rates expected to increase as parents have more time to open accounts.
The Minister noted that some parents do not open CDAs due to perceived financial constraints or lack of awareness, and the Government is expanding outreach through community channels and recent exercises to encourage more families to sign up.

Questions identified by AI (learn more)

Full Transcript

Tin Pei Ling

Chan Chun Sing

My Ministry will continue to extend our outreach to families who have yet to open their CDAs. For example, we recently conducted an outreach exercise

Page: 99

Summary written by AI (learn more)

Tin Pei Ling inquired about the number of Singaporean children without a Child Development Account (CDA), the reasons parents do not set them up, and what support the Government can offer low-income families.
Minister Chan Chun Sing reported that, since the Baby Bonus scheme began in 2001, about 3% of earlier cohorts (2,600 children) did not open a CDA, while 7% of later cohorts (14,000 children) have yet to do so, with take-up rates expected to increase as parents have more time to open accounts.
The Minister noted that some parents do not open CDAs due to perceived financial constraints or lack of awareness, and the Government is expanding outreach through community channels and recent exercises to encourage more families to sign up.

Questions identified by AI (learn more)

Singapore Children Who Do Not Have Child Development Accounts

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Tin Pei Ling

Chan Chun Sing

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Singapore Children Who Do Not Have Child Development Accounts

Summary

Questions Identified

Full Transcript

Tin Pei Ling

Chan Chun Sing

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Questions Identified