S’pore Total Fertility Rate Falls to Historic Low So Gov Giving More Financial Support

COVID-19 didn’t just affect people’s livelihoods.

It has also affected the birth rate here in Singapore.

With the already-low pre-COVID-19 fertility rate, it’s no wonder that the Singapore government is doing something about it.

If you’re planning on a beautiful baby boy or girl this year, I’ve got great news for you.

S’pore Total Fertility Rate Falls to Historic Low

On 26 Feb 2021, Minister in the Prime Minister Office, Ms Indranee Rajah, said Singapore’s total fertility rate (TFR) fell to 1.1

That’s the lowest TFR Singapore has experienced so far.

Which isn’t as surprising as you’d think, given how the TFR has been on a gradual decline for a few decades now.

The COVID-19 pandemic, she says, has caused couples to postpone marriage and parenthood plans.

Marriages in 2020 have dropped by 10% compared to 2019.

Gov Giving More Financial Support

It’s not just Singapore facing this problem, Ms Indranee pointed out, and other countries like Taiwan and South Korea also experienced a drop in TFR due to COVID-19.

While it’s not easy to raise the fertility rate for “advanced societies”, it is important that those “who want to get married and have children” are supported.

Which is why, don’t say we bojio ah, the Singapore government will double the cap for its dollar-for-dollar matching in the Child Development Account (CDA) for the second child.

Parents will have to deposit money into the account first to enjoy the matching bonus.

For example, if you deposit S$100 into your child’s CDA, the Singapore government will deposit the same amount into the account to match your contribution.

Instead of a maximum cap of S$3,000, the Singapore government will match up to S$6,000 for the second child.

Before her announcement, the cap on the dollar-for-dollar matching for the first and second child is S$3,000.

Who’s Eligible?

The new cap will apply to children whose estimated delivery date or date of birth is on or after 1 Jan 2021.

The move is expected to benefit 12,000 households

According to Ms Indranee, there are many couples in Singapore who wants to have a second or even third child.

However, they were deterred by the costs of having a second kid.

“We hope that notwithstanding the pandemic, Singaporeans will continue to pursue their family goals, and we will galvanise a whole-of-nation effort to support them.”

Support For Fathers And Adoptive Mothers

The government is also looking at supporting fathers and adoptive mothers in their journey to parenthood.

Those who are not eligible for paternity or adoption leave can receive cash in lieu of paid leave under a new government-paid paternity or adoption benefit.

This applies to people who could be on short-term employment contracts or had it ended before they got their kid.

Similarly, this applies to children who were born, or have a formal intent to adopt, on or after 1 Jan 2021.

To qualify, the parents must’ve worked at least 90 days in the year before they got their child.

According to the PMO, about 500 working fathers and adoptive mothers will benefit every year.

It was added that Singapore continues to keep a tight hold over the country’s immigration.

Feature Image: udeyismail / Shutterstock.com