Singapore has announced a new family support package that could provide eligible Singaporean children with government benefits worth nearly N94 million from birth until age 17, as the country grapples with a record-low birth rate.

Prime Minister, Lawrence Wong announced the S$62,000 SG Child Support Package during his National Day Rally speech on August 23, saying the government was moving towards a simpler and more comprehensive system of support for families.

When combined with existing benefits, the total government support available to an eligible child will reach about S$70,000, equivalent to nearly N94 million based on the stated conversion.

Wong said the package was designed to provide sustained assistance throughout a child’s development rather than concentrating support only around the time of birth.

Under the new scheme, families will receive a S$10,000 cash Baby Gift, while children will receive S$32,000 in Child Credits.

The package also includes a S$5,000 Child Development Account grant, government co-matching of up to S$5,000 under the account and a further S$10,000 contribution to the child’s Post-Secondary Education Account.

Existing benefits, including a S$5,000 MediSave Grant for Newborns and annual Edusave contributions, will bring the overall value of government support to about S$70,000 per child.

The new arrangement is higher than the S$27,500 to S$56,500 currently available to families, depending on the child’s birth order.

Wong said the government was simplifying the support system because many parents found the existing arrangements complicated and difficult to navigate.

Under the revised package, the S$10,000 Baby Gift will be distributed in two instalments during the child’s first year.

The S$32,000 Child Credits will provide S$2,000 annually from the child’s first birthday until age 16, while another S$10,000 will be added to the child’s education account when the child turns 17.

The measures are expected to benefit more than 610,000 children across about 380,000 households.

The expanded support comes as Singapore seeks to address its declining fertility rate and encourage more couples to have children.

Wong said the government was committing substantial resources to the programme because supporting families and citizens throughout every stage of life remained a national priority.

The initiative represents a broader shift in Singapore’s approach to family policy, with the government seeking to provide more predictable and long-term financial assistance to parents as they raise their children.