About 540,000 Young Singaporeans to Benefit from $300 Top-Up to Edusave Account or Post-Secondary Education Account (PSEA) in May 2023

1.About 540,000 Singaporeans aged 7 to 20 this year will each receive a one-off top-up of $300 to their Edusave account or Post-Secondary Education Account (PSEA) in May this year.

2.This one-off top-up is part of the enhancements to the Assurance Package announced at Budget 2023 to provide families with additional support for their children's education-related expenses in 2023. This is on top of the annual Edusave contribution that the Government makes.

3.Funds in the Edusave account and PSEA can be used to pay for approved fees and enrichment programmes.

4.The top-up will be credited directly into recipients' Edusave account or PSEA by end-May 2023. No action is required from recipients. Parents of eligible recipients will receive e-notifications via their SingPass app, informing them of the successful top-up by end May 2023. Parents without the SingPass app will be notified through SMS.

More Information on Edusave Account and PSEA

5.More information on the Edusave account and PSEA is available at www.moe.gov.sg/financial-matters/edusave-account and www.moe.gov.sg/financial-matters/psea respectively. For enquiries regarding Edusave Account and PSEA balances, please contact 6260 0777.

6.More information on the Assurance Package announced at Budget 2023 is available at go.gov.sg/assurancepackage.

7.For other enquiries, please submit them to our Virtual Assistant "Ask MOE" or refer to Frequently Asked Questions (FAQs) at https://www.moe.gov.sg.

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