If you caught the Prime Minister’s speech during the National Day Rally 2015, there’s great news for all parents with babies born this year and future parents. Yup, more baby bonus, more Medisave grant and daddies get one more week of paternity leave!
The baby bonus used to be $6000 for the first and second child, and $8000 for the third and fourth child. It’s now $8000 and $10000 respectively. And the good news is, it doesn’t stop at the fourth child. Every child after that gets $10000 too. Guess Singapore really needs more babies!
The Medisave grant used to be $3000 but now it has been increased by $1000 to $4000. This is to help support families due to the increased premiums for Medishield Life. If you don’t already know, Medishield Life is compulsory for all Singaporeans now. It’s to ensure that all Singaporeans are covered by a basic health insurance.
What caught my attention the most is the increased one week of paternity leave. Yay! Now mummies have help around the house for longer and daddies get to spend more time with their babies. This is great news especially for first-time mummies like me who don’t know what to expect when baby comes. All civil and public service organisations offer this perk straight away. For private companies, they are encouraged to offer this.
Source of information: Channel News Asia