Enhancements to widen use of Child Development Account: DPM Teo
Deputy Prime Minister Teo Chee Hean announced enhancements to the CDA during the Committee of Supply Debate for the Prime Minister's Office. -AsiaOne
Under the enhanced scheme, the CDA can be used to cover a child's expenses at pharmacies, opticians as well as assistive technology devices for children with disabilities up to the age of 12, with changes to be implemented in the second half of the year.
The CDA was piloted in 2001 to allow parents set up a deposit account for their child. The government then matches the deposit one-for-one, up to a cap of S$18,000 per child, depending on the child's birth order.
The money can currently be used for the developmental needs of the child, up to age six, in areas such as child care, kindergarten and health care.
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