In Singapore, there is no specific tax-advantaged account similar to an Individual Retirement Account (IRA) that is specifically designated for education expenses. However, there are other options available to help you save for education costs. Here are a few strategies you can consider:

1. Education Savings Plans: Consider opening a regular savings or investment account specifically earmarked for education expenses. You can contribute regularly to this account and potentially earn interest or investment returns over time. Make sure to choose an account with favorable terms and conditions.
2. Government Subsidies and Grants: Explore the various subsidies, grants, and scholarships offered by the Singaporean government for education expenses. These can help reduce the financial burden of education costs. Visit the Ministry of Education (MOE) website or speak to a financial advisor for more information on available options.
3. Insurance Policies: Some insurance providers offer education-focused policies that provide a lump sum or regular payouts when your child reaches a certain age or when specific education milestones are reached. These policies can help fund education expenses. However, it’s important to carefully consider the terms, premiums, and potential returns before committing to such policies.
4. Tax Planning: Although there is no specific tax-advantaged account for education in Singapore, you can still take advantage of existing tax benefits. For example, you may be eligible for certain tax reliefs or deductions for education expenses under the Income Tax Act. Consult a tax professional or the Inland Revenue Authority of Singapore (IRAS) for guidance on the specific tax incentives available to you.