21 Nov '11, 10am

New CPF scheme for parents with special needs children

New CPF scheme for parents with special needs children

The Special Needs Saving Scheme allows parents to ensure that, after their death, the funds in their CPF accounts can be disbursed to their special needs child on a monthly basis, instead of a lump-sum payment. -- ST PHOTO: CAROLINE CHIA By Janice Heng The Special Needs Saving Scheme allows parents to ensure that, after their death, the funds in their CPF accounts can be disbursed to their special needs child on a monthly basis, instead of a lump-sum payment. This will be done by creating nominee CPF accounts upon the parent's demise, and disbursing funds from those accounts. The nominee accounts will earn the same interest rates as the parent's original accounts. Parents can decide the quantum of the monthly payouts when applying for the scheme, with a minimum amount of $250 a month. However, if at the time of death, the parent's savings are insufficient to provide the mi...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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Help for parents with special needs children....

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