Mr Dennis Tan Lip Fong asked the Minister for Manpower (a) how many children under the age of five years old currently have active CPF Special Accounts; (b) what proportion of the parents who topped up such accounts live in HDB flats; and (c) what is the median sum of money in such accounts as of 31 December 2023.
Dr Tan See Leng: As of 31 December 2023, 3,400 children under the age of five years old currently have balances in their Central Provident Fund (CPF) Special Account (SA). The median sum of money in these children’s SA is around $1,000.
Most of these children’s SA were topped up through the Retirement Sum Topping-Up Scheme and they can receive top-ups from anyone, not just parents. CPF Board does not keep track of, whether the top-up to these children’s SA comes from their parents. Among all givers who had topped up these children’s SA through the Retirement Sum Topping-Up Scheme, around eight in 10 live in Housing and Development Board flats.
Ministry of Manpower
2 April 2024
https://sprs.parl.gov.sg/search/#/sprs3topic?reportid=written-answer-16170
Office of the Leader of the Opposition 