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Straits Times
18-05-2025
- Business
- Straits Times
Forum: Support schemes set up for families of persons with disabilities
We are encouraged by the recent commentary on caregivers (Caregivers need more support: We owe it to them, May 15), and the response by Forum writer Lim Jui Seck (Happy to help those with special needs dependants with estate planning, May 16). As Mr Lim pointed out, customised estate planning is critical but often overlooked in providing long-term security for these families. For families with persons with disabilities, planning for the future can be challenging, as it involves ensuring their loved ones are financially supported and well cared for, even after the primary caregiver is no longer around. We would like to share the following support structures for these families. Special Needs Trust Company (SNTC), a wholly owned subsidiary of SG Enable, provides trust services specifically designed for these families, ensuring that funds set aside for their long-term care are professionally managed and disbursed according to the family's wishes. Special Needs Savings Scheme, administered by SNTC, allows parents to nominate their CPF savings to be paid out in regular, managed payouts to support their loved ones after their passing. Gift Of A Lifetime (Goal) helps parents purchase a $100,000 term plan, ensuring the proceeds are directed into their child's SNTC trust account upon their death. Goal supports lower-income families by sponsoring the initial $5,000 deposit to set up an SNTC trust account, and providing matching top-up donations of up to $5,000, helping families build a robust financial safety net. As announced in Budget 2025, lower- and middle-income families will also benefit from a dollar-for-dollar matching grant of up to $10,000 for top-ups to the SNTC trust accounts, providing even greater support for long-term financial planning. From January 2026, the Government will also expand the coverage of the Matched Retirement Savings Scheme to include persons with disabilities of all ages. Eligible persons with disabilities can receive a dollar-for-dollar matching grant of up to $2,000 a year, with a lifetime limit of $20,000, from the Government on cash top-ups received in their CPF Special Account. SG Enable is also setting up the Future Care Planning Resource Centre at the Enabling Village. This centre, to be launched at the end of the year, aims to support caregivers by connecting them with trusted experts in legal, financial and care planning. As the needs of persons with disabilities and their families continue to evolve, these support structures are essential for providing greater peace of mind, assurance and long-term security. By raising awareness of these resources and encouraging early planning, we can empower families to navigate the journey of future care planning with greater confidence. Lee May Gee Chief Executive Officer SG Enable More on this Topic Forum: What readers are saying Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
15-05-2025
- General
- Straits Times
Forum: Happy to help those with special needs dependants with estate planning
Forum: Happy to help those with special needs dependants with estate planning I am certain the Opinion piece 'Caregivers need more support. We owe it to them' (May 15) will help to raise awareness among Singaporeans about the challenges faced by caregivers of special needs dependants or persons with special needs (PSNs) in our society, and the help they need. While it is necessary to improve financial and care support systems, we should also raise public awareness of customised estate planning solutions needed for families with PSNs, who are unable to live independently by themselves. PSNs could be minor children, adult children, or adult members such as spouses, parents and relatives. Caregivers of such PSNs have serious concerns about how to ensure their PSNs will be cared for and provided for throughout their lifetime, if they themselves should suffer loss of mental capacity or when they die. Such customised estate planning solutions are usually beyond the scope and capability of charity organisations and churches. These caregivers should approach professionals experienced in offering consultation and solutions in estate planning for families with special needs dependants or PSNs. I have been conducting educational talks since 2022 to charities and churches on this topic, on a pro bono basis, and would be happy to offer free consultations for families with special needs dependants. Lim Jui Seck More on this Topic Forum: What readers are saying Join ST's Telegram channel and get the latest breaking news delivered to you.
