Can I close my Child Development Account (CDA) and withdraw the money?
You cannot close the Child Development Account (CDA) on your own. The CDA will be closed on 31 December of the year your child turns 12 years old.
Thereafter, remaining funds in the CDA will automatically be transferred to your child’s Post-Secondary Education Account (PSEA) under the Ministry of Education (MOE), subject to a cap.
For more information on PSEA, please visit the MOE website
Related questions
When will the Child Development Account (CDA) be closed?
How can I transfer my Child Development Account (CDA) funds to Post-Secondary Education Account (PSEA)?
Will I still be able to receive dollar-for-dollar co-matching contributions from the Government after the Child Development Account (CDA) is closed?
My child’s CDA will be closing this year. Can I still change my child’s CDA trustee?
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