Prime Minister Lawrence Wong stated on Tuesday that Singaporean parents will get up to S$16,000 (US$11,900) extra in financial help for each third and subsequent child born starting on Tuesday.
While delivering his Budget 2025 speech in parliament, the finance minister said, "Couples with more children often worry about additional costs, because the demands grow with each additional child."
He stated that married couples who currently have or hope to have three or more children will be assisted by the new Large Families Scheme.
Govt to spend roughly S$80 million annually
The Prime Minister's Office's National Population and Talent Division (NPTD) stated that this pertains to parents who have remarried and are raising three or more children from prior or current marriages.
According to NPTD, the government anticipates spending roughly S$80 million annually on the project.
Wong said parents of every third Singaporean born after Tuesday would get a S$5,000 Large Family MediSave award. The mother's MediSave account will receive the award, which she can use to defray the costs of her pregnancy and delivery or the medical bills of her family members.
According to the PM, parents will also earn S$1,000 in LifeSG credits annually for every third kid between the ages of one and six, for a total of S$6,000 over six years.
These credits, like those earned by national service members, are accessible to the trustee of the child's Child Development Account via the LifeSG mobile app and can be spent at any online or physical retailer that takes PayNow UEN QR or NETS QR payments.
The news release issued by NPTD on Tuesday stated that families that already have three or more children under the age of six who were born between January 1, 2019, and February 17 of this year will additionally get S$1,000 annually for each qualifying child until the child turns six.
Collaboration with Business Partners
In September, these Large Family LifeSG credits will be distributed. In subsequent years, the credits will be distributed in April once a child's eligibility is assessed on March 1.
Lastly, under the First Step grant, every Singaporean kid born after Tuesday would receive S$10,000 in their kid Development Account. This is twice as much as the initial sum.
Wong also added that this can be applied to the child's or their siblings' preschool fees and medical expenses.
According to NPTD, the government also hopes to collaborate with business partners to offer large families a "broad range" of benefits and discounts. To date, thirty businesses from a variety of industries, including retail, transportation, and food and beverage, have joined.
The announcements for large families made on Tuesday are part of a series of marriage and parental initiatives that the Singaporean government has implemented in recent years. They include 10 extra weeks of paid leave the next year and six more weeks of paid leave for new parents starting on April 1.
In 2023, the Baby Bonus was also raised to incentivize additional kids.
Singapore's Total Fertility Rate Decreasing?
Although fewer married couples are actually having three or more children, over one-third of them desire to do so, according to NPTD polls.
According to data from the Department of Statistics, the percentage of married women in Singapore between the ages of 40 and 49 who had three or more children fell from 24% in 2014 to 18% in 2024.
For the first time, Singapore's total fertility rate fell below 1.0 in 2023.
Wong also revealed more one-time assistance initiatives in this area on Tuesday. For every child under the age of twelve, families will earn S$500 in Child LifeSG credits this year. For children born this year, the credits will be paid out in April 2026, and for those aged one to twelve this year, in July.
Children in Singapore between the ages of 13 and 16 will get S$500 in top-ups to their Edusave accounts, while those between the ages of 17 and 20 will receive an extra S$500 in top-ups to their Post-Secondary Education accounts.
The Child LifeSG credits are anticipated to help approximately 455,000 families, while the top-ups to Edusave and Post-Secondary Education accounts would benefit approximately 300,000 students.
