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Data on Active CPF Special Accounts for Children Under Five | PAPERCUTS

Data on Active CPF Special Accounts for Children Under Five

Debated in Parliament on 2 Apr 2024.

Summary written by AI (learn more)

As of 31 December 2023, there were 3,400 children under five years old with active CPF Special Accounts.
The median sum in these accounts was around $1,000.
About eight out of ten givers who topped up these accounts lived in HDB flats, but the CPF Board does not track whether top-ups came specifically from parents.

Questions identified by AI (learn more)

Full Transcript

Dennis Tan Lip Fong

#1

Mr Dennis Tan Lip Fong asked the Minister for Manpower (a) how many children under the age of five years old currently have active CPF Special Accounts; (b) what proportion of the parents who topped up such accounts live in HDB flats; and (c) what is the median sum of money in such accounts as of 31 December 2023.

Tan See Leng

#2

As of 31 December 2023, 3,400 children under the age of five years old currently have balances in their Central Provident Fund (CPF) Special Account (SA). The median sum of money in these children's SA is around $1,000.

Most of these children's SA were topped up through the Retirement Sum Topping-Up Scheme and they can receive top-ups from anyone, not just parents. CPF Board does not keep track of, whether the top-up to these children's SA comes from their parents. Among all givers who had topped up these children's SA through the Retirement Sum Topping-Up Scheme, around eight in 10 live in Housing and Development Board flats.

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Disclaimer

The information on this site contains data taken from the Parliament website and the Hansard, and augmented with analyses from artificial intelligence agents. While great care has been taken to ensure the accuracy of these analyses, they should not be regarded as fully accurate or comprehensive. Users are advised to consult original parliamentary documents and official records for precise and authoritative information.

Summary written by AI (learn more)

As of 31 December 2023, there were 3,400 children under five years old with active CPF Special Accounts.
The median sum in these accounts was around $1,000.
About eight out of ten givers who topped up these accounts lived in HDB flats, but the CPF Board does not track whether top-ups came specifically from parents.

Questions identified by AI (learn more)

Questions identified

Summary

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