Question on Child Devt Account (CDA)

[Sabian]

Is yours the first child? Only 2nd child onwards gets the matching $ for $ scheme.

Sure or not? 1st kid don't have matching??

[Nzy]

Sure or not? 1st kid don't have matching??

 

Before 17 August 2008 only second to fourth child got 1-1 matching. 1st one don't have.

[Salmon]

Sure or not? 1st kid don't have matching??

 

Have lah, only for those born on or after 17 Aug 2008.

 

http://www.babybonus.gov.sg/bbss/html/faq.html

[TVT]

Deleted

Edited July 19, 2012 by TVT

[Jman888]

why those who bid for cat A coe yesterday so special? can pay $68k for the pape!!

[Skyiet27]

Oh I see

No tks

One is enuff

We r used to life without nightly cries

Hahaha

Have too many

Bo pao these kids grow up all to be good

Hahaha

[WTF]

why those who bid for cat A coe yesterday so special? can pay $68k for the pape!!

Now we don't even get that piece of paper....

[Nzy]

Wah fish, can i clarify: i can't wtihdraw at 6? My kid just turned 6 liao

 

Maybe you can call up MCYS to clarify. I think only recently they changed to 12 years old.

[Jim]

A lot of confused people here, and I am not 100% sure myself, but:

 

1) First child by old rules has no CDA free money or matching funds

 

2) But there was a certain year when the govt announced free money to ALL children in their CDA accounts

 

3) I think they realised belatedly first child born around 2005 did not have a CDA account and could not credit the money

 

4) So they belatedly allowed parents of these children to open a CDA account, but it was so close to the deadline for closing the CDA that they allowed the parents to withdraw the money

 

5) I *think* CDA of other children still cannot withdraw the money and should be transferred to PSEA, which means it would be frozen from P1-S4, which is stupid, IMHO

 

6) But I *think* they changed the rules again so CDA can remain open until PSEA is active...

 

Very confusing. But at NO POINT the CDA money goes into Edusave. That's yet another account altogether.

[Joseph22]

Now we don't even get that piece of paper....

he is pointing at monk to scold the hairless lah....

 

 

ey.. notice you no hair also.

[Ysc3]

question : where to find out how much more govt matching do I have ?

 

I mean I put money into my boy's CDA .. but now I also dunno how much I put already ... but I max only want to put $6k as govt match max $6k also.

 

conclusion, where/how to find out how much $$ more before I hit the $6k cash deposit into his CDA ?

[Kangadrool]

http://www.babybonus.msf.gov.sg/parent/

 

 

question : where to find out how much more govt matching do I have ?

 

I mean I put money into my boy's CDA .. but now I also dunno how much I put already ... but I max only want to put $6k as govt match max $6k also.

 

conclusion, where/how to find out how much $$ more before I hit the $6k cash deposit into his CDA ?

 

[Ysc3]

http://www.babybonus.msf.gov.sg/parent/

 

dun blame me for not knowing ... coz I did not even know need the CDA atm card to make use of his money even !!

 

went for his jabs and when the cashier ask me how i wanted to pay. i told her to use his CDA. then she ask me for the card and i said " what card ??" ... ended paying cash ...

 

i am a clueless father ....

[Kangadrool]

you need to open a CDA account with OCBC or UOB or another dunno what bank to start spending.  Government "cash" gifts and $ for $ matching game also credited inside.

 

If $$$ too much, can buy spectacles at those authorised shops.

 

dun blame me for not knowing ... coz I did not even know need the CDA atm card to make use of his money even !!

 

went for his jabs and when the cashier ask me how i wanted to pay. i told her to use his CDA. then she ask me for the card and i said " what card ??" ... ended paying cash ...

 

i am a clueless father ....

 

[Coltplussport]

dun blame me for not knowing ... coz I did not even know need the CDA atm card to make use of his money even !!

 

went for his jabs and when the cashier ask me how i wanted to pay. i told her to use his CDA. then she ask me for the card and i said " what card ??" ... ended paying cash ...

 

i am a clueless father ....

 

 Use it to pay school fees, there shouldn't be any left over after that. Remember that CDA for subsequent children can be use to pay school fees for those that ran out. So CDA shouldn't have much left over to worry about.

Edited January 12, 2016 by Coltplussport

[Ahseng]

won't have "leftover" or "too much" one assuming one goes to childcare from 18 months onwards.

[Nzy]

won't have "leftover" or "too much" one assuming one goes to childcare from 18 months onwards.

 

Those that go for normal kindergarten with no childcare will not be able to use up. I didn't deposit all at one go cuz I doubt can finish using before Primary school.

[Sabian]

question : where to find out how much more govt matching do I have ?

 

I mean I put money into my boy's CDA .. but now I also dunno how much I put already ... but I max only want to put $6k as govt match max $6k also.

 

conclusion, where/how to find out how much $$ more before I hit the $6k cash deposit into his CDA ?

 

Is your child covered for medical under yours or your wife's company coverage?

 

If so, use that unless your medical coverage is insufficient.

 

When your kid goes to nursery or kindergarten, there will be ample opportunities to use it. And the baby bonus won't seem like much when their school fees kick in.