World’s second-richest country to give children $55,000 each in financial support amid record-low birth rate
Singapore, ranked the world's second-richest country by GDP per capita in 2025, has unveiled new support policies that will grant each eligible Singaporean child nearly S$70,000 (US$55,150) in direct financial support from birth to age 17.
Singapore, the world's second-richest country, announced on Sunday a substantial new financial support package for families, aiming to bolster its declining birth rate. Known as the SG Child Support Package, this comprehensive scheme will provide up to S$62,000 per eligible child, along with an additional S$7,500 in existing benefits. Prime Minister Lawrence Wong revealed this initiative during the National Day Rally, emphasizing the government's commitment to assist citizens in starting and raising families.
Under the new package, a S$10,000 cash gift will be given to each newborn on or after April 1, 2027, divided into two tranches within the first year of the child's life. Furthermore, S$2,000 in annual credits will be provided for the first 16 years of a child's life, totaling S$32,000. Compared to current schemes, a firstborn child could receive S$42,000 more by age 17, while the increase for a third child would be S$19,000.
Interestingly, the package provides equal support regardless of birth order, unlike existing schemes that favor higher-order children.
The benefits of this package will extend to all Singaporean citizens, irrespective of birth order, family circumstances, or their parents' marital status, according to the National Population and Talent Division (NPTD). This move aims to support the growth and development of children, with benefits now extending through a child's 17th birthday, up from the previous cutoff at age 12.
The package will also provide more financial assistance compared to the current system, which mainly focuses on the initial years of a child's life.
With Singapore's total fertility rate dropping to a historic low of 0.87 last year, the government predicts the country will become a super-aged society by the end of 2026. As birth rates continue to fall, the government has formed a workgroup to review marriage and parenthood policies. In addition to the SG Child Support Package, the government also pledged nearly S$7 billion in related measures this fiscal year to ease the cost and stress of raising children.
Wong emphasized that while policies alone cannot compel individuals to have children, the government aims to provide support for those who choose to start and raise a family, ensuring they are not left alone in the journey.
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