I wondered how many countries in the world take the task of increasing birth rate as seriously and as actively as the Singapore Government. I was pleasantly surprised at the enhancements to the benefits compared to 4 years ago when I had the little lion dancer. Does it yield results? I guess so, judging from the recent article published by The Straits Times in February this year, citing an all time high of birth rates in 13 years, despite the still low fertility rates.
Looking at myself, I get married at 33, had my first child at 35 and second at 40, I'm definitely one of those who fall into the categories mentioned in the article. Women nowadays are more educated, spend more time in school before joining the workforce in their mid-20s. It would be a good 5 years from the first paycheck to save enough for a decent wedding, apply for a flat before even think about having kids. Regardless, I'm still one of the 'late bloomers'. Well, better late than never. Some things in life cannot be rushed, isn't it?
I find this website - Hey Baby, rather useful in providing all the information you would need on Government's subsidies from the point of planning for your marriage to raising kids.
1. Cash payout
For the 1st and 2nd child, total cash payout would be $14,000 per child comprising $8,000 for Enhanced Baby Bonus Cash Gift and $6,000 for matching CDA funds. This sum of money is supposed to help defray costs of raising a child, but is that enough? How long can it last a typical family?
Middle-Income Family (monthly household income of $8,000)
Above $7,500, you do not get any additional subsidy on childcare, average childcare fees after working mother subsidy would be around $400-$800 per month. Taking average of $600 per month, $14,000 would not last even 3 years.
Low-Income Family (monthly household income of $7,500 and less)
Well, the sum of money would probably be able to last 5 years for this group of families.
For us, we are likely to use the cash payout to offset the maternity expenses leading up to the delivery.
2. Medisave Grant for Newborns
This is another enhancement from 4 years ago. Newborns will have a new Medisave account set up and credited with $4,000 to help with medical expenses and to pay for Medishield Life Insurance.
3. Enhanced Paternity Leave
When little lion dancer was born, my husband had only just a pathetic 2 days of paternity leave. Now, he will get 2 full weeks to spend time with me and the baby. Nice.
4. Shared Parental Leave
Husband can now share 1 week of their wife's maternity leave to take care of the newborn. No, this is not an option for him, haha.
5. Infant Care Leave
This is perhaps not new. For families with kids up to 2 years, total number of days of child care leave a year is actually 12 (6 days for childcare + 6 days for infant care).
There are also other benefits which may not be applicable to everyone, eg. maternity protection scheme, work life grant, tax reliefs and foreign domestic worker levy concession.
Pray that come budget next year, there will be further enhancements (especially in the area of financial subsidies and flexi-work arrangement) that would be back-dated to 1 January 2017. *Fingers crossed*
