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本帖最后由 skysky22 于 13-2-2018 09:21 编辑
Can the Child Development Account (CDA) be used for school and miscellaneous fees at primary, secondary and Pre-University levels? What will happen to the unused balance?
The CDA cannot be used to pay school and miscellaneous fees at primary, secondary and Pre-University levels. The account can only be used to pay fees at licensed child care centres, MOE-registered kindergartens and special education schools. The unused balance will be transferred directly into the child's Post-Secondary Education Account. Details of the usage of the CDA can be found at MSF website
Under the Child Development Co-savings Act, the CDA will be closed by the end of the child’s 12th year, and the balance will automatically be transferred to the child’s Post Secondary Education Account (PSEA) under the Ministry of Education. For more information, please visit the MOE website: [color=rgb(21, 99, 153) !important]http://www.moe.gov.sg/initiatives/post-secondary-education-account. The CDA funds cannot be withdrawn in cash. However, the funds can be used by the child to pay for fees at Approved Institutions (AIs) which have registered with under the Baby Bonus Scheme. You may search for an Approved Institution at the following link : [color=rgb(21, 99, 153) !important]https://www.babybonus.gov.sg/bbss/jsp/inst/InstInternetMaint.jsp Unused funds at the end of the child’s 12th year will be rolled into the PSEA. The PSEA is under the purview of the Ministry of Education (MOE). The PSEA balance will earn interest pegged to the CPF Ordinary Account (CPF-OA). Funds in the PSEA can be used for post-secondary education in the ITE, and locally based polytechnics and universities until the child turns 30. Unutilised PSEA balances will eventually be transferred to account holder's CPF Ordinary Account.
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