CDA account

[daddy2007]

Daddy

how to use CDA to pay Pri 1 sch fees? Later also not enuff to pay :razz:

Or don't open CDA now and opt for cash in Nov?

Just top up the CDA account monthly or periodically

[Kissgurami]

Thought the CDA account will be closed when child is approaching 7 years old?

[Kissgurami]

WCW:

patntee:

WCW, you have to ask the childcare for the form and apply thru the childcare. Can be used for siblings too. I use my DS CDA for DD childcare, cos DD is 2006 first born dun have CDA herself.

oh ok, DS dnt have the acct. but coz gvt give $300 so need go open... then dunoe whos to use... :rotflmao:

wait till Nov then opt to withdraw

[Castle House]

WCW:

patntee:

WCW, you have to ask the childcare for the form and apply thru the childcare. Can be used for siblings too. I use my DS CDA for DD childcare, cos DD is 2006 first born dun have CDA herself.

oh ok, DS dnt have the acct. but coz gvt give $300 so need go open... then dunoe whos to use... :rotflmao:

since can withdraw out.. just continue to your DS de..

[Kissgurami]

WCW:

wait till Nov then opt to withdraw

i was thinking of that... coz so troublesome to get the form n sign n wait giro approval then after need make sure the following mth back to normal account. aiyo, so troublesome... it's not $3000 which is $300 not even enough for CC fees...[/quote]

that was what I told the lady at Baby Bonus

I told her that Giro for CC isn't as simple , the process takes around 5 weeks.. Giro is already stagnant with DD2 CDA.. it would be messy to do one time deduction... and yes the money barely covers CC

[krazy]

Oh...

I was told that the monies frm CDA will be transferred to Edusave account? No? Then this sum of money is \"wasted\" for my girl cuz she doesn't attend child care.

Castle House:

Oh.. from what I understand.. the $$ can be withdrawn out in this case..

But even can't can use for his Primary or Secondary..education..

[glayz]

I being using my #2 CDA acct for both her and #1 pap school fees.

Scare later law change here ChangE there dunno $ go where… My cousin who is 1 yr older than ds can withdraw out lor… Dd 3 yrs younger go straight to edusave

[Karenjj]

found this on moe website on unspent CDA balance:


http://www.moe.gov.sg/initiatives/post-secondary-education-account/eligibility-and-usage/

[larkspur]

i received the letter that i will be given a form to do the withdrawal for the $300 given to my elder girl. The money can be withdrawn. my son CDA account, i never use the money even though he is attending childcare cos the amount can be withdrawn when he reached 7 years old. I read from MCYS site that for babies born fromm 2005 to 2007 and is a 2nd child, the money can be withdrawn when child reaches 7 years old. Those born after 2007, the money will be transferred to edusave or PSEA

[NaNaAYie]

For those who are born in year 2005, you can either withdraw cash or transfer your CDA funds to the PSEA. By now, parents should have received the letter informing them of this matter.


From 15 November 2011 onwards, you can log-in to http://www.babybonus.gov.sg/html/eService.html to make your option if you want to withdraw the CDA cash. You need your SINGPASS to log into this e-Service. And you have upto 18 December 2011 to make your option.

And for saving upto the max, you have till 29 December 2011 to do so to benefit from the gvt matching contribution.

Hope this helps