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17 December 2007

INCREASE IN CONTRIBUTION RATES TO
EDUSAVE ACCOUNTS

1.         From Jan 2008, the Government will increase the annual contribution rate to Edusave accounts of eligible pupils by $10 to $180 for those at the primary level, and by $20 to $220 for those at the secondary level.

2.         With the additional funding, pupils will have more resources to participate in a broader range of enrichment activities and learning experiences, where they can pursue their interests and develop their strengths. Funds in the Edusave account can be used to pay for school-based enrichment programmes. Pupils in Government and Government-aided schools can also use it to pay 2nd tier miscellaneous fees and autonomous school miscellaneous fees, while those in independent schools can use it to pay school fees in excess of the standard government fees. 

3.         The increase in Edusave contribution will cost the Government an additional $7.6 million.  The total budget for Edusave contribution in 2008 is $86.2 million.

Background

4.         As part of the Edusave Scheme implemented in 1993 to maximise educational opportunities for Singaporeans, yearly contributions are paid into the Edusave accounts of eligible pupils.   A pupil is eligible for an Edusave account if he is a citizen between ages 6 and 16, and is a full-time pupil in a Government or Government-aided primary/secondary school, independent school, special education school or Institute of Technical Education vocational training centre.

5.         Each year, the Government makes a contribution in January to the accounts of eligible pupils.  The contribution rate started at $50 in 1993.  It was increased yearly and reached $160 in 1997 for all levels.  In 2005, the contribution rate was further increased by $10 to $170 for those at the primary level, and by $40 to $200 for those at the secondary level.