Children bring joy to the family. To support couples in their decision to have more children, the Baby Bonus Scheme helps to lighten the financial costs of raising children. The Scheme is part of the Marriage and Parenthood Package and was recently enhanced in February 2021 to provide couples with greater support and assurance. The Scheme includes a Cash Gift and Child Development Account (CDA) benefits. The CDA benefits comprise the CDA First Step Grant which will automatically credited after CDA opening and dollar-for-dollar Government co-matching for each dollar that parents deposit in the CDA, up to the co-matching cap.
You can check if your child is eligible for the Baby Bonus cash gift and/or CDA benefits by using the Eligibility Check Tool on Baby Bonus Online.
For more information on the enhancements made to the Baby Bonus Scheme, please visit MSF website.