How much does it cost to start a family in Singapore?

Growing your family with a bouncing bundle of joy is great news, and to properly provide for your new addition it’s important to consider the various aspects of family planning.

Beyond the usual hospital visits, scans, childbirth, cribs and pumps, there might be additional factors such as fertility, unforeseen complications and, of course, the marathon of seeing your newborn through to adulthood.

What they didn't tell you about... having a baby

You’re raring to settle down and start a family, but have you considered how much you’ll need financially? Let’s be realistic: Having children costs money. The key is to plan early to ensure that you’re well-prepared for the road ahead.

“Starting small is better than not starting at all.” – this is something that financial service manager Samuel Goh often tells his clients who are starting their family planning. The father of three estimates child-rearing expenses to comprise 20 to 30 per cent of one’s income as a general guide.

“Costs involved before a baby is even born include prenatal vitamins, fertility treatments if needed, and baby essentials. This can cost $5,000 and upwards.

Next are the gynaecological consultations, which cost about $100 to $300 per session. Hospital fees aside, birth plans include doula services, birthing classes, and even birth photography – this can cost upwards of $3,000,” he says.

To support Singaporeans with the costs of conception support, and maternity and newborn care, the Government offers a number of financing schemes covered by Medisave or Medishield plans (with the exception of the Assisted Reproduction Technology Scheme, which is a Government co-funded scheme).

The Medisave Maternity Package covers up to $900 for pre-delivery medical expenses, an additional surgical withdrawal limit up to $2,600, and up to $550 per day of hospital stay. To defray the costs of a child’s healthcare expenses, the Government automatically creates a Medisave account with a grant of $4,000.

There is also Medishield Life, a mandatory basic health insurance that covers all babies from birth. Other Government support, such as the Medisave Maternity Package and the Baby Bonus Cash Gift, is available too.

Sow Wei Ting, a financial consultant and soon-to-be mother-of-two, reveals that additional costs can vary widely. These range from engaging a confinement nanny, which has set her back about $4,000 a month, to ongoing expenses such as infant care or childcare, which can range from $300 to $2,000 a month.

Additionally, she hires a helper (approximately $700 a month, excluding upfront agency fees), purchases formula milk if needed, and spends around $300 a month on diapers. Visits to the paediatrician can also add up, costing up to $100 per month, she says.

She adds: “In the event of delivery complications, if the mother has a hospitalisation plan, this might be covered. Otherwise, my advice would be to consider a subsidised ward in a public hospital – that will help to manage costs. The same applies for extended hospital stay for the newborn.

“Do also budget for an emergency C-section in your delivery costs because, if required, this can add a lot. It is also prudent to have at least six months of emergency savings for unforeseen circumstances, and look into maternity plans that allow for a baby to be insured with hospitalisation and critical illnesses coverage from birth, without a need for medical underwriting (or declaration of health conditions) – one of the most overlooked aspects of financially prudent family planning.”

Preparing for unforeseen circumstances is also key, learnt Tjie Siew, a director of student affairs. She says it was only natural for her to discuss her family plans with her financial consultant ahead of time, given her organised and well-prepared nature.

She recalls: “I did not foresee myself being diagnosed with pre-eclampsia. I was hospitalised for two weeks before I gave birth prematurely to a healthy baby girl at 35 weeks and four days. My baby also had serious jaundice, so she needed intensive phototherapy. These are things you can’t really plan for.”

Jessie Tan, a 39-year-old real estate consultant, also experienced pregnancy complications with her second child, conceived via a frozen embryo.

“I have a low placenta, hence in my third trimester, I kept bleeding and the doctor admitted me twice in December 2023 for observation, which resulted in a $6,000 bill (in a private hospital). Luckily, the hospitalisation plan I bought covered 100 per cent of the fees,” she says.

What they didn't tell you about... IVF treatments and egg freezing

For some couples, getting pregnant may not come easy, and they may need professional intervention – as well as additional funds.

Jessie shares: “I started my in-vitro fertilisation (IVF) journey almost seven years ago.” It was a journey of ups and downs. After failing treatments thrice in Singapore, which included a private cycle that cost $15,000 at that time, she looked overseas for options.

She recalls: “I decided to head to a well-reviewed clinic in Malaysia that I heard has a high IVF success rate. It was also cheaper due to the currency exchange rate – about $5,000 per cycle.”

Finally, in early 2021, after a total of seven tries, she eventually conceived her son naturally. Like Jessie, a lot of Zora Health’s clients go overseas for treatments as it can be 20 to 60 per cent cheaper.

Anna Haotanto, CEO and founder of the one-stop reproductive health and family planning platform, shares that the platform advises clients on which clinics and countries are suitable, as well as the differences in IVF regulations for each country.

In fact, encountering infertility in the course of your family plans might be more common than you think. It affects one in six couples in Singapore, no matter their gender, race, or ethnicity, notes Tim Kwan, managing director, Asia, Virtus Health, a global Assisted Reproductive Service provider that runs a fertility centre in Singapore.

He references data from the World Health Organization that was extrapolated to reference Singaporeans by the National University Health System (NUHS).

He adds: “About 15 to 20 per cent of couples in Singapore are unable to conceive within 12 months of trying for a baby… they spend thrice as long, an average of 3.4 years to conceive naturally,” citing a recent white paper on fertility in Asia by Ferring Pharmaceuticals.

According to Singhealth, IVF in a Singapore public hospital costs between $10,000 and $12,000 depending on the selected treatment. To help defray costs, those undergoing assisted conception procedures in public assisted reproduction centres may be eligible for up to 75 per cent in co-funding from the Government.

Couples can also utilise Medisave to further help with the costs, up to a lifetime Medisave withdrawal limit of $15,000 per patient.

For women who plan to have children later in life, elective egg freezing (EEF) might be an option. This is a fertility option for women who wish to preserve their reproductive options while focusing on their careers or other life goals.

Other reasons women freeze their eggs include preserving their eggs before a procedure such as the removal of ovarian cysts or undergoing cancer treatment.

According to the Ministry of Health, the age limit for EEF is set at 37 years. No subsidies are available for EEF. Only legally married couples can use their frozen eggs for procreation, it said.

However, freezing your eggs is not a guarantee and shouldn’t be seen as such, cautions Zora Health’s Anna. She notes that the cost of egg freezing in Singapore ranges from $12,000 to $25,000 before GST, depending on clinics, specialists, and factors such as age, ovarian reserve, and treatment protocols.

Egg quality decreases with age, adds Tim. He says: “At Virtus Fertility Centre Singapore, due to our investment in people, processes, and equipment, in 2023, the ongoing pregnancy per Frozen Embryo Transfer (FET) is 53.3 per cent for our patients 30 years old and below; for patients above 45 years old, it’s 40 per cent.”

In addition to the full suite of fertility services that Virtus Fertility Centre offers, the centre has also launched IVF(SG), the first private IVF services provider to offer fertility services at public hospital prices.

This ensures patients get quick access to fertility treatment, while keeping treatment fees fixed at $12,888. While Government subsidies aren’t available, patients are able to utilise their Medisave for IVF treatments.

Meanwhile, Zora Health makes financial consulting an integral part of its comprehensive approach to fertility care. This includes assessing corporate coverage, exploring payment options, and connecting clients with resources for financial assistance if needed.

“Our goal is to ensure that cost is not a barrier to accessing quality reproductive health care, and we are committed to empowering our clients with the information and support they need to achieve their family planning goals,” says Anna.

What they didn't tell you about... raising a child

It’s more than just getting past those “terrible twos”, feeding and clothing your child, or providing an education and pocket money. Parents also have to consider the “what ifs” and, if they can afford it, giving their little one a better head start in life.

By assessing her financial situation, a woman can make informed decisions to determine how many
children she and her spouse can afford to support without jeopardising their overall financial stability, says Michelle Ngiam, an executive senior financial consultant. The mother-of-two is a firm believer of making financial plans before starting a family.

A typical ballpark figure to raise a family is around $300,000 or more per child (zero to 18 years), she estimates. This includes giving birth in Singapore, which ranges from a few thousand to $30,000, depending on whether there are any complications.

As for education, studying in a Ministry of Education kindergarten costs $163.50 a month, while going to a private preschool can cost up to $2,200. There may be working mother subsidies available. Primary, secondary and junior college education is heavily subsidised, starting from $13 to $43 a month.

For higher education, it can be about $10,000 a year for a local degree; while studying overseas could chalk up $50,000 to $100,000 a year, including living expenses.

Other educational expenses such as childcare fees, tuition and other enrichment vary, with the latter ranging from $20 to $50 per class on average, shares Michelle.

For her own children, Michelle has in place hospitalisation and accident plans to cover medical bills, life insurance with all-stage critical illness coverage, as well as an endowment savings plan and investment plan – “not to spoil them, but to have it ready just in case” – that can also be used as an education or family fund if needed.

For both children, she spends about $8,000 a year on insurance, and $18,000 annually on their two endowments and one investment plan.

What they didn't tell you about... making a lifestyle change

No one said motherhood would be easy, and that includes making adjustments to your life to accommodate the needs of your newborns. Your new shopping splurges might instead include the newest baby stroller; you may even need to pare down your yearly trip to Europe.

Michelle helps her clients reach their goals despite limitations such as money, energy and time. In this case, it is important to prioritise what is most important to them at that juncture, she says.

To bring expenses down, she suggests taking advantage of promotions at baby fairs, utilising credit cards for cash back or miles, splitting high upfront payments into more manageable instalments, and making necessary lifestyle changes such as going for a lower budget holiday.

Speaking from experience, Wei Ting says: “Hand-me-downs from friends was something that I appreciated when I was preparing for my own baby’s birth. And in terms of coverage, couples can consider term insurance (a policy that covers them for a set period of time) for their newborn instead of whole-life insurance if affordability is a concern.

“Don’t be put off by the costs or financial stress of having a baby; it can be managed by planning ahead. The incredible feeling when the baby is in your arms will make you feel it is all worth it!”

Here's how much you'll need per child

Before

• IVF treatments (if needed) – from $10,000 per session
• Prenatal vitamins, baby essentials – $5,000 or more

During

• Gynaecological consultations – $1,000 to $3,000 (based on 10 sessions)
• (Optional) Doula services, birthing classes, birth photography
  – $3,000 or more
• Delivery – from $0 (fully subsidised) to over $10,000
• (Optional) Confinement nanny – $4,000

After

• (Optional) Infant care/childcare – $300 to $2,000 a month
• (Optional) Helper – $700 a month
• Formula milk (if needed) and diapers – $300 a month
• Visits to the paediatrician – $100 a month
• Preschool education – from $163.50 a month
• Primary, secondary and junior college education – from $13 to $43 a month
• Preschool education – from $163.50 a month
• Primary, secondary and junior college education – from $13 to $43 a month
• Higher education – from $10,000 a year
• Enrichment (if needed) – $20 to $50 per class

Others

• Child insurance – from $100 a year to over $4,000
• (Optional) Child endowments/investment – $5,000 a year

Total
~$300,000
*These are all estimated costs