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Can I close my Child Development Account (CDA) and withdraw the money?

Updated by MSF

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

Topics:

Baby Bonus (BB)Baby Bonus Scheme

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