I thought the balance money from the CDA account will go to the child Edusave account when he/she goes to Pri sch and from there, parent can use it to pay for miscellaneous fees? Any balance will then be put into the child's CPF ordinary account later on.
ya its true. if the parents do not want to have baby, the new scheme might not help or convince them too. so ultimately it depends on the parents' decision.
as for us, we were deciding whether or not to give another sibling and companion to our girl, so this scheme looks abit attractive, esp the CDA for second child. But after checking with our colleage and friend, we realised that the CDA can only be used for childcare fees. If parents do not wish to withdraw when the child reach 6 yeras old (0r 7, cant really remember), the money will be kept in the account and used for tertiary education. it cant be used for pri and secondary school fees. Have you heard about this?
