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Best Education Savings Plan in Singapore

Learn about the different Education Savings plans and compare savings plans from different insurers to find the plan that best suits your needs.

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Education Savings Plan Overview

In Singapore, most parents rely on endowment plans from insurance providers to save for their children’s education. These plans offer a disciplined savings structure, combining guaranteed returns with potential bonuses, ensuring that funds are available when needed for school or university expenses. Additionally, while the Supplementary Retirement Scheme (SRS) is primarily designed for retirement savings, some Singaporeans use it as a tax-deferred option to accumulate funds that can later be directed toward education costs. Endowment, and investment-linked policies, can both be used to build education fund, providing greater flexibility and potential growth.

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Beat inflation

An endowment plan, while posing limited risk, also offers parents the opportunity to outpace inflation through its investment returns. This helps ensure that they can keep up with rising school fees and afford their child’s education with greater financial security.

Principal Guaranteed

Unlike investments where both profits and principal are at risk, an endowment plan guarantees both to ensure financial stability when the child reaches university. This removes the uncertainty of market fluctuations and protects parents from potential financial shocks.

Payor Protection

A well-crafted savings plan ensures that education expenses are automatically covered in the event of a parent’s untimely death or critical illness. This guarantees that a child’s education funding remains secure, regardless of the parent’s health or mortality.

Local University Inflation Rate 4% (Safe Gauge)

The education inflation rate reflects the rising cost of education in Singapore over the years. From 2008 to 2020, the tuition fees for university business courses, the most common program across institutions, were analyzed to determine an average inflation rate. The cost data was sourced directly from the official websites of various universities.

Famous Destination Education Cost Per Annual (in SGD) in 2025

Degree Fee Per Annum for UK, US, Australia and Singapore University (Source: Various University Websites)

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Education Savings Plan F.A.Q

Find answers to commonly asked questions about Education Savings Plan in Singapore

How much do i need for Singapore University Education?

In 2024, top business schools in Singapore charge approximately SGD 13,000 per year, bringing the total cost of a three-year degree to nearly SGD 40,000. Depending on when and where your child enters university, we have provided inflation-adjusted estimates of 4% p.a. to help you gauge the potential future cost of a local university education.

What the difference between Endowment plan and Education Plan?

An education plan is essentially a type of endowment plan that provides scheduled annual payouts after a set number of years to fund a child’s education. Modern endowment plans are now designed with greater flexibility, allowing policyholders to make partial withdrawals without compromising the policy, ensuring liquidity for education expenses when needed.

What if i die or get critical illness, how do i fund such plan?

Most endowment plans allow policyholders to add a payor waiver rider, ensuring that the insurer continues funding the policy for their child’s education even in the event of death, disability, or a major critical illness. This provides financial security and peace of mind, with only a nominal additional cost for the rider.

Should i buy the policy under my life or my child’s life

We recommend purchasing the policy under your child’s life and adding a payor waiver rider to ensure that the policy remains active in the event of an unfortunate circumstance. This protects the policy from lapsing and relieves your spouse of any additional financial burden. Additionally, if anything were to happen to your child, the plan will provide a death benefit payout.

How do i apply and pay?

After our education planning experts contact you via your form submission to clarify your needs and guide you through your options. You can then apply education savings plan with them via online or face to face submission. Premium payments can be made via credit card (recurring setup), GIRO, AXS (physical stations, website, or app), or bank transfer through online banking

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