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New CPF Special Needs Saving Scheme
A new CPF Special Needs Saving Scheme will be launched in early 2012 for parents who have children with special needs. This comes six years after the scheme was originally proposed.
Under the scheme, the funds in the parent’s CPF accounts can be disbursed to their special needs child on a monthly basis, instead of a lump-sum payment.
Upon the parent’s demise, nominee CPF accounts will be set up and a monthly payout of at least $250 will be drawn from the account. The amount can be decided by the parents when they are applying for the scheme.
However, if the parent’s savings are insufficient to provide the minimum payout for 12 months at the point of death, the entire balance will be paid out as one lump sum.
The disabled who require assistance in at least one activity of daily living (There are 6 ADLs: washing, dressing, feeding, toileting, mobility and transferring) and children in Special Education schools would be eligible for this scheme. The nominating parent and the person with disabilities will also have to be Singaporeans or Singapore Permanent Residents at the time of application.
Parents may approach the Centre for Enabled Living for more information.