Singapore, 09 Dec 2023 - DBS Foundation today announced a multi-pronged partnership with the Ministry of Social and Family Development (MSF) to improve the lives and livelihoods of lower-income families with children living in rental flats, by equipping them with the support, know-how and opportunities to break out of their present circumstances. SGD 1 billion pledge to uplift vulnerable segments of society over the coming decade. First announced in August, this pledge involves DBS committing up to SGD 100 million per year over the next ten years to improve lives and livelihoods of the low-income and underprivileged, and foster a more inclusive society. This pledge augments existing community initiatives by the bank and DBS Foundation. Committing SGD 30 million to help address ComLink+ families' preschool education and home ownership needs introduction of ComLink+ packages to strengthen support for ComLink+ families that are taking active steps to improve their circumstances. Four packages will be progressively rolled out from the second half of 2024 and trialled over three years. Preschool Education and Saving for Home Ownership , and will contribute over SGD 30 million to fully fund the community-funded portion for these packages over the three years. The two packages are projected to benefit around 8,500 children[1] and 1,400 families[2] respectively per year. [3] . Please refer to the appendix for details on the Preschool Education and Saving for Home Ownership ComLink+ packages. DBS volunteer befrienders to provide ComLink+ families with targeted support Mr Desmond Lee, Minister for National Development and Mr Piyush Gupta, CEO of DBS Bank , at the National Gallery this afternoon. Several ComLink+ families and their DBS volunteer befrienders were also in attendance, after enjoying the morning touring the Gallery Children's Biennale and other exhibits together. Mr Desmond Lee, Minister for National Development and Mr Piyush Gupta, CEO of DBS Bank, delivering opening remarks at the launch of the DBS Foundation X MSF partnership respectively. Minister Masagos Zulkifli, Minister for Social and Family Development , said, "Thank you, DBS for stepping forward to contribute to ComLink+. Especially in the Year of Celebrating Social Service Partners and the Forward SG exercise, it has shown us how important it is to work together, to strengthen support for lower-income families in their journey towards Stability, Self-reliance and Social mobility. In doing so, this has allowed for Singapore to enjoy the success that we have today." Piyush Gupta, CEO at DBS Bank , said, "A deep sense of purpose is deeply rooted in DBS' DNA. Over the years, we've actively helped various segments of society through our banking and community initiatives. This year, amid rising inflation and an uneven economic recovery, we rolled out an extensive package of cost-of-living measures to support our customers. To further intensify our efforts to help the vulnerable, and in an effort to catalyse larger-scale sustainable change, in August, we extended our efforts with an SGD 1 billion commitment to uplift the vulnerable over the next 10 years. The partnership with MSF is our first under this programme. By coming alongside the ComLink+ families - and providing that extra support so they can provide early education for their children, own a home sooner, and gain financial resilience - we hope to do our part in helping them build a better future." partnership with SG Enable to reach 6,500 persons with disabilities and their caregivers over three years starting 2024, and equip them with the financial and digital skills to face the future with confidence. (from left to right) Monica Datta, Head of Community Impact Chapter, DBS Foundation; Karen Ngui, DBS Foundation Board Member; Han Kwee Juan, Country Head of DBS Singapore; Minister Desmond Lee; Piyush Gupta, CEO of DBS Bank; Denise Low, Director, Service Delivery Division, MSF; and Adeline Kwok, Director, Communications and Engagement, MSF. Minister Desmond Lee, representatives from DBS and MSF, ComLink+ families and their DBS volunteer befrienders pose for a photo to commemorate the launch of a strategic partnership between DBS Foundation and MSF. This seeks to improve the lives and livelihoods of lower-income families with children living in rental flats, by equipping them with the support, know-how and opportunities to break out of their present circumstances APPENDIX: Details of ComLink+ packages supported by DBS Foundation Package's Objective: To encourage early enrolment and regular preschool attendance, to improve children's subsequent educational outcomes.
Action(s) that the family must take
Financial top-ups that the family will receive
Estimated no. of potential beneficiaries per year
Ensure child is enrolled in preschool in the year he/she turns 3 y/o
One-off SGD 500 top-up to child's CDA
Around 8,500 children
Ensure child attends preschool regularly from 3 - 6 y/o
Recurring SGD 200 top-up to child's CDA for every quarter of good attendance (≥ 75% attendance)
Table 1.1: ComLink+ package (Preschool Education)
Package's objective: To help families to save up for their flat purchase.
Action(s) that the family must take
Financial top-ups that the family will receive
Estimated no. of potential beneficiaries per year
Make voluntary contributions to CPF
2:1 matched CPF contribution - for every SGD 1 of voluntary contributions to CPF by family, SGD 2 top-up will be made to selected family members' CPF-Ordinary Account.
Around 1,400 families
Table 1.2: ComLink+ package (Saving for Home Ownership)
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[1] Based on estimated number of 3-year-olds in ComLink+ families who could be enrolled in preschool each year, and 3- to 6-year-olds in ComLink+ families who are enrolled in preschool each year.[2] Based on estimated number of ComLink+ families that are in stable employment and able to contribute to CPF each year.[3] Up to a limit of SGD 30,000 in total pay-outs across Saving for Home Ownership and Employment ComLink+ packages 
