Club 2005 Kids
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bigsnoopy:
I just saw a letter from MCYS asking me to open a CDC account before Dec 2011. Anyone had the same letter?
Yup rec it. -
Kissgurami:
For the 2005 child, there will not be any matching from gvt.Matching Government Contribution in Child Development Account (CDA) for children eligible for Baby Bonus
The CDA is a special savings account that you open at any OCBC Bank or Standard Chartered Bank branch for your child who is eligible for CDA.
All your children born on or after 17 August 2008 will also enjoy Government contributions in the form of a dollar-for-dollar matching for the amount of savings you contribute to your child’s Child Development Account (CDA). If your child is born before 17 August 2008, he or she will enjoy the Government matching contributions in the CDA if he or she is your second to fourth child. -
SAHM_TAN:
Have you read it yet? I haven't. Too wordy alrdy. Intending to bring to office and read.bigsnoopy:
I just saw a letter from MCYS asking me to open a CDC account before Dec 2011. Anyone had the same letter?
Yup rec it.
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I call MCYS last mth when I received the letter for DD2 ( born after 08) n not for DD1( born b4 2008) . They told me will get the letter some time this mth to open cda acc for dd1. They also said $400 for dd1 can be withdraw out after dd1 turn 7 yo but for dd2 cannot be withdraw even after she turn 7 yo.
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bigsnoopy:
Have you read it yet? I haven't. Too wordy alrdy. Intending to bring to office and read.SAHM_TAN:
[quote=\"bigsnoopy\"]I just saw a letter from MCYS asking me to open a CDC account before Dec 2011. Anyone had the same letter?
Yup rec it.[/quote]This is just the application form, need to complete the form and then MCYS will send authorisation letter with instructions to open the CDA account.
I have 2 CDAs for my DS and DD2. So I just read the portion on how to open for my DD. -
Why can’t they just sent the authorisation letter and we can open the account straightaway? Very troublesome. Govt already have our kids record wat!
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bigsnoopy:
Why can't they just sent the authorisation letter and we can open the account straightaway? Very troublesome. Govt already have our kids record wat!
:roll: Red Tape as usual.... -
bigsnoopy:
Why can't they just sent the authorisation letter and we can open the account straightaway? Very troublesome. Govt already have our kids record wat!
They like paperwork
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SAHM_TAN:
:laugh: I thought they are encouraging paperless. we dont received cpf statement anymore. If we don't fill in the application, i wonder if we can still receive the money.bigsnoopy:
Why can't they just sent the authorisation letter and we can open the account straightaway? Very troublesome. Govt already have our kids record wat!
They like paperwork -
bigsnoopy:
:laugh: I thought they are encouraging paperless. we dont received cpf statement anymore. If we don't fill in the application, i wonder if we can still receive the money.[/quote]If you don't fill, then the money will \"be transferred to directly into child's Post-Secondary Education Account or withdrawn\"SAHM_TAN:
[quote=\"bigsnoopy\"]Why can't they just sent the authorisation letter and we can open the account straightaway? Very troublesome. Govt already have our kids record wat!
They like paperwork
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