Eligibility

Who is Eligible for a PSEA?

If he has CDA balance to be transferred

If a Singaporean is eligible for a Child Development Account (CDA) and has unspent balance in his CDA, a PSEA will be opened for him:

  • In the year he turns 7 years old for a child born between 2001 and 2005, or
  • In the year he turns 13 years old for a child born in or after 2006.

If the parents have not saved up to the CDA contribution cap, they can continue to contribute to PSEA and receive the government’s matching grant until the contribution cap is reached, or when the child turns 18 years old, whichever is earlier. MOE will send a letter to inform the parents of the amount transferred, how much more they can co-save and how to make further contributions, if applicable.

Details of the CDA Scheme are available at the MSF babybonus website.

How do parents contribute to PSEA?

If a child’s CDA balance has been transferred to PSEA and the contribution cap has not been reached, parents can continue to contribute to the child’s PSEA through the following payment channels:

For all parents
  • Via AXS (Click on DBS/POSB icon, Select 'Services', then 'PSEA')
  • Via cash at any DBS/ POSB, OCBC, or UOB Bank Branch
  • Via UOB Cash Deposit Machine
  • Via cheque at any OCBC or UOB cheque drop boxes or send the cheque to PSEA Unit, Ministry of Education, 1 North Buona Vista Drive, Singapore 138675 (The cheque must be crossed and made payable to ‘Ministry of Education Post-Secondary Education Account’. The payee has to write his/her name and contact information, and his/her child’s/ward’s Birth Certificate Number / Citizenship Certificate Number / Identity Card Number and name on the reverse of the cheque.)
For parents who are account holders of the respective banks indicated below only:
  • Via OCBC ATM (Select Bill Code 6001 for ‘MOE PSEA Contribution’)
  • Via UOB ATM
  • Via DBS/POSB or UOB Internet Banking
  • Via DBS/POSB Mobile Banking
  • Via Funds Transfer at any OCBC or UOB bank branch
  • If he is eligible for government top-up

    As announced in Budget 2015, a top-up will be provided to the PSEA of Singaporeans to assist households in saving for tertiary education. The amount will depend on the Annual Value of Home as shown in the Table below:

    Age of child in 2015 Annual Value of Home as at 31 Dec 2014
    Up to and including $13,000 Above $13,000
    17 to 20 $500 $250

    If a Singaporean is eligible for the PSEA top-up, a PSEA will be opened for him if he does not already have one. The top-up will be done automatically.

    Top-ups to PSEA were provided in 2008, 2009 and 2010. The amount a Singaporean receives will depend on his age and the Annual Value of Home as shown in the Tables below:

    Top-up in 2008

    Age of Child in 2008 Annual Value of Home $10,000 or less Annual Value of Home more than $10,000
    1st top-up Additional top-up Total 1st top-up Additional top-up Total
    7 to 12 $200 $300 $500 $100 $150 $250
    13 to 20 $400 $600 $1,000 $200 $300 $500

    Top-up in 2009

    Age of Child in 2009 Annual Value of Home $11,000 or less Annual Value of Home more than $11,000
    7 to 12 $200 $100
    13 to 20 $400 $200

    Top-up in 2010

    Age of Child in 2010 Annual Value of Home $11,000 or less Annual Value of Home more than $11,000
    7 to 12 $200 $100
    13 to 20 $500 $250

    MOE will automatically open a PSEA for each Singaporean who is between 7 and 20 years old, and send a letter to inform him of the top-up amount. PSEA will also be opened automatically for all who become Singapore citizens from 2008 to 2010 if they are between 7 and 20 years of age.

  • If he has Edusave balance to be transferred

    If a Singaporean has an Edusave account, the balance will be transferred to PSEA in the year he turns 17 years of age or is no longer studying in a MOE-funded school, whichever happens later MOE will send a letter to inform the account-holder when the transfer is effected.

  • If he is eligible for National Service Housing, Medical and Education Awards

    If a Singaporean is eligible for the first tranche of the National Service Housing, Medical and Education (NS Home Awards), a PSEA will be opened for him if he does not have one yet. Details of the NS Home Awards can be found at the NS Home Award website.

  • If he is eligible for Annual Education Bursary

    If he is eligible for annual education bursary under the Home Ownership Plus Education (HOPE) Scheme.

    Details of the HOPE Scheme are available at the MSF website.