Parents in Singapore can receive the Baby Bonus upon meeting specific eligibility criteria and upon successful application. Here are the key points related to the timing of receiving Baby Bonus benefits:
- Birth of the Child: The process typically starts after the birth of your child.
- Application Submission: Parents can apply for the Baby Bonus Scheme after the child’s birth. The application process involves submitting necessary documents and details through the Baby Bonus Online portal.
- Approval and Notification: Once the application is processed and approved, parents will receive notification regarding the eligibility and approved benefits under the Baby Bonus Scheme.
- Cash Gifts: Cash gifts are disbursed in installments and are typically credited directly into the bank account provided during the application process. The schedule for cash gift disbursement is outlined by the scheme.
- Child Development Account (CDA): An account is opened automatically for the child, and parents receive a CDA welcome package. Contributions and matching funds for the CDA start once the account is activated.
- Medisave Grant for Newborns: The grant is deposited into the child’s Medisave account to support healthcare expenses.
The specific timeline for receiving Baby Bonus benefits may vary based on the processing time of the application and the disbursement schedule set by the authorities administering the scheme. Typically, parents start receiving benefits shortly after the successful application, and cash gifts are disbursed in installments according to the schedule provided by the scheme.