What is the requirement to be a Child Development Account (CDA) Trustee?
The Child Development Account (CDA) trustee can be either the child’s parent (applicant who submits the Baby Bonus application on LifeSG) or the other parent/third party re-nominated by the applicant if the applicant is unable to open a CDA with the bank. Both parents of the child must agree to the nomination.
The CDA trustee’s responsibility is to ensure the proper usage of CDA funds for the benefit of the child or their sibling. The CDA trustee must not be bankrupt, and must be above 18 years old.
For more information on CDA, you may visit LifeSG to find out more.
Related questions
I enrolled my child into Baby Bonus Scheme before 1 July 2024 and nominated my spouse as the Child Development Account (CDA) trustee. How can I change the trustee to myself?
My spouse enrolled our child into Baby Bonus Scheme before 1 July 2024 and nominated me to be the Child Development Account (CDA) trustee. How can I change the trustee to my spouse?
Can I use a joint account to apply for Child Development Account?
My child’s Child Development Account (CDA) trustee is a third party. How do I change the CDA trustee to myself or my spouse?
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