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The Baby Bonus Scheme
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The Baby Bonus Scheme, which was introduced on 1 April 2001, supports parents' decision to have more children by helping to lighten the financial costs of raising children. The Baby Bonus Scheme consists of two components - a cash gift and a Child Development Account. It is hoped that through financial incentives, the birth rate can be boosted, allievating Singapore from the eventuality of an ageing population.
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