01 Mar '12, 1pm

More help for parents to cope with rising cost of raising kids

More help for parents to cope with rising cost of raising kids

SINGAPORE: Deputy Prime Minister Teo Chee Hean announced that there will soon be more help for parents with the cost of raising their child. Enhancements are being made to the Child Development Account (CDA) in the second half of this year. Families with children can use CDA savings for child care, kindergarten and healthcare needs. The age when the CDA savings account can be used will also be extended from six to 12 years old. The scope of approved uses for CDA will also be expanded to include expenses at pharmacies, opticians as wells as hearing and visual aids for children with disabilities. Mr Teo said these enhancements will give parents more flexibility in using CDA funds for expenses directly related to raising their child. He welcomed suggestions by MPs who asked for additional support to encourage marriage and parenthood in order to raise birth rates. Mr Teo said:...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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