Building assets from birth: Singapore's policies. Issue 1 (2nd January 2019)

• Record Type: Journal Article
• Authors: Loke, Vernon; Sherraden, Michael
• Is Part Of: Asia Pacific journal of social work and development. Volume 29:Issue 1(2019)
• Page Start: 6
• Page End: 19
• Publication Date: 2019-01-02
• Subjects: Singapore -- child development account -- asset building -- CDA; Social service -- Pacific Area -- Periodicals; Social service -- Asia -- Periodicals; Electronic journals; 361.3
• DOI: 10.1080/02185385.2019.1571940
• Languages: English
• ISSNs: 0218-5385

Abstract

ABSTRACT: Singapore has created innovative, inclusive and comprehensive asset-building policies designed to promote social stability and development. Asset building from early childhood is an important part of this overall strategy. In 1993, Singapore's government initiated a universal child asset-building policy, Edusave, which provides resources for improving educational outcomes. Since then, three additional asset-building policies for children have been implemented: the Baby Bonus and Child Development Accounts (CDAs), Post-Secondary Education Accounts (PSEAs) and Medisave, a health savings account. We discuss each of these asset-building accounts for children in Singapore. We point out distinctive features and assess key elements in overall policy design.