Data on Eligible Children with No or Inactive CDA Accounts and Barriers to Open and Utilise Such Accounts

114 Ms Mariam Jaafar asked the Minister for Social and Family Development (a) what is the current number of eligible children who have no or inactive Child Development Account (CDA) accounts; and (b) what are the barriers preventing families from opening and utilising CDA accounts.

Mr Masagos Zulkifli B M M: Parents can open a Child Development Account (CDA) for an eligible Singapore Citizen child anytime from the child's birth until the end of the year that he or she turns 12.

Based on the 2013 to 2024 birth cohorts, around 420,000 children are eligible for a CDA. Less than 1% of them have not opened their CDAs. One reason why some parents may not have opened CDA for their child is because they are residing overseas and are unable to use CDA funds outside of Singapore.