Singaporean families with eligible children born on or after Feb. 14, 2023, will receive their enhanced Baby Bonus benefits from Aug. 1, 2023, ahead of the planned implementation in early 2024, announced the Ministry of Social and Family Development and the National Population and Talent Division in a Jul. 28 press release.

Depending on when the child enrols in the Baby Bonus Scheme, the payout period and implementation timeline will differ.

Here is a guide:

If your children enrol in the scheme from Aug. 1, 2023, you will receive the first step grant in your Child Development Account (CDA) within two weeks from the opening of the account.

You will also receive the government's co-matching contributions within two weeks from your deposit into your CDA, excluding public holidays.

Alternatively, if your children were enrolled in the scheme between Feb. 14 and Jul. 31, 2023, you will receive your benefits in a phased manner.

If your child enrolled in the scheme between Feb. 14 and Jun. 30, 2023, you will receive the additional S$2,000 first step grant paid into your CDA by mid-August 2023.

You can start saving in your CDA from Aug. 1 and receive the government's co-matching contributions up to the additional cap of S$1,000 within two weeks of the deposit, excluding public holidays.

If your child enrolled in the scheme between Jul. 1 and Jul. 31, 2023, you will receive the additional S$2,000 first step grant paid into your CDA by Oct. 1, 2023.

You can start saving in your CDA from Aug. 1 and receive the government's co-matching contributions up to an additional cap of S$1,000 by Oct. 1 as well.

Savings made after Oct. 1 will be co-matched within two weeks of the deposit, excluding public holidays.

Background

The enhanced Baby Bonus Scheme, comprising the Baby Bonus Cash Gift (BBCG) and the Child Development Account, was announced by Deputy Prime Minister and Minister for Finance Lawrence Wong during Budget 2023.

Families with eligible Singaporean babies born on or after Feb. 14, 2023, will receive an increased BBCG with a longer pay-out period, as well as more government contributions to the CDA.

While the implementation timeline was previously estimated to be early 2024, the relevant agencies have managed to expedite the legislation and system updates necessary to bring forward the implementation timeline to August 2023.

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