The PSEA program is the latest of three national asset-building programs targeting children in Singapore. The other two programs are the Children Development Account (CDA) targeting children from birth to age 6, and the Edusave account for school-going children aged six to 16. Unused balances in CDAs, Edusave accounts and PSEAs will be rolled over to the Central Provident Fund (CPF) account which follows the account holder for the rest of his/her life. Together, these four accounts provide a comprehensive cradle-to-grave asset building system for Singapore’s new generation.
Citation
Loke, V., & Sherraden, M. (2007, June). Building children’s assets in Singapore: The Post-Secondary Education Account Policy (CSD Policy Brief No. 07-36). St. Louis, MO: Washington University, Center for Social Development.