Trusts
Matching Grant for Top-Ups to Trust Accounts
In the Budget 2025 speech, the Government has announced that lower- and middle-income families will receive a dollar-for-dollar matching grant of up to $10,000 for top-ups to Trust accounts with the Special Needs Trust Company (SNTC), a fully owned subsidiary of SG Enable. Please visit SNTC’s website for more information.
A burning issue with many caregivers is about caring for their loved ones with disabilities when they themselves are
no longer around. Financial security is not all there is to it, but it is very important.
Trust funds can provide a steady income stream for persons with disabilities when their caregiver passes on. With a
minimum sum of $5,000, caregivers can set up a trust fund through SNTC,
the only non-profit company with trust services for persons with disabilities. SNTC will help the caregiver work out
how much money to set aside in a trust fund and how the funds will be disbursed upon the demise or incapacity of the
caregiver. SNTC
will act according to the caregiver’s wishes in disbursing the money. To find out how to set up a trust, see
below:
Special Needs Savings Scheme
SNTC also administers the Special Needs Saving
Scheme, which enables parents of children with special needs to set
aside their CPF savings for the child's long-term care. Under this
scheme, parents can nominate the child as a beneficiary of their CPF
monies when they pass on. The child will receive monthly payouts of an
amount pre-determined by the parents until the savings are exhausted.