Budget 2023: Baby Bonus increased by S$3,000, with payouts until child turns six-and-a-half Budget2023
SINGAPORE: The Baby Bonus Cash Gift will be increased by S$3,000 for babies born from Tuesday , announced Deputy Prime Minister Lawrence Wong in his Budget speech.
With the adjustments, parents of babies born on Feb 14 and after will receive S$11,000 each for their first and second child, and S$13,000 for their third child and beyond. “To all young married couples, whether you already have a newborn, or you're expecting a baby, or you plan to have a baby, we have something to help you in your parenthood journey,” he added.
The grant was previously given to parents of Singaporean children born from Oct 1, 2020, to Sep 30, 2022, to encourage couples to proceed with their parenthood plans through the pandemic.Government to provide more support for newborns as COVID-19 puts some parents in tough spotThe Child Development Account First Step Grant will be increased from S$3,000 to S$5,000, announced Mr Wong on Tuesday.
Third and fourth children continue to get up to S$9,000 in matching funds from the Government, while the fifth and subsequent child will continue to get up to S$15,000.
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