The Child Development Account (CDA) will be closed on 31 December of the year your child turns 12 years old. Thereafter, funds in the CDA will be automatically transferred to your child’s Post-Secondary Education Account (PSEA) under the Ministry of Education (MOE), up to the cap applicable to your child. Only excess CDA balance above this cap will be refunded to the child.

For more information on PSEA, please visit the [MOE website].