The Edusave Scheme was launched in 1993 with the aim of maximising opportunities for Singaporean students in MOE-funded schools (e.g. government and government-aided schools, and government-funded independent and special education schools) by providing resources for school enrichment activities in support of their holistic development and to encourage students to excel in both academic and non-academic areas.
Where does the money for Edusave come from?
The Edusave Scheme is funded using income generated by the Edusave Endowment Fund, which is built up from Government contributions. The Government contributed an initial capital sum of $1 billion to the fund in 1993. The capital sum reached the target of $5 billion in FY1997. With further top-ups of $0.2 billion in FY2012 and $0.3 billion in FY2013, the capital sum stands at $5.5 billion.
How can my child benefit from Edusave?
If your child is a Singapore Citizen and is studying in a MOE-funded school, he/she can benefit from the Edusave Scheme in the following ways:
Since 2014, eligibility to receive Edusave contributions has been extended to all Singaporean children aged 7 to 16, including those not studying in MOE-funded schools.
As announced at Budget 2019, a top-up of $150 will be provided to the Edusave accounts of Singaporean children aged 7 to 16, on top of the annual contributions that they currently receive, as shown in the Table below. Students above the age of 16 who are still in a MOE-funded secondary school will also receive the top-up.
Total Edusave contribution and top-up for 2019
|Level or Age
||Annual contribution per eligible Singaporean child in 2019
||One-off top-up per eligible Singaporean child in 2019
||Total amount to be received in 2019
|Primary level or
7 – 12 years old
|Secondary level or
13 – 16 years old
The top-up will be done automatically in mid-2019.