2,500 needy families to get help with childcare
costs
By Alice Chia | Posted:
15 December 2012 2023 hrs
SINGAPORE: Some 2,500 low-income families will benefit from a
S$250,000 initiative to help their children.
The five Commmunity Development Councils will help identify
eligible families with monthly household incomes of less than
S$3,500.
OCBC Bank will also contribute S$100 when a low-income family
deposits the first S$50 into their Child Development Account
(CDA).
Under the existing Baby Bonus scheme, the government will match the
contributions to the CDA dollar for dollar.
The money in the account can then be used at approved institutions
for the child's development and healthcare
needs.
Acting Minister for Social and Family Development Chan Chun Sing
said: "This year, we have also expanded the kinds of things that
you can spend the CDA money (on). For example, it will also include
early intervention programmes, visits to the doctor, medical
insurance and purchase of healthcare-related products. We hope that
in this small way, we can help families to defray the cost of
bringing up the children, especially for the needy
families."
Under the initiative, parents can also attend financial literary
talks by OCBC Bank staff volunteers to learn more about money
management.
- CNA/xq
