# Enhancements to Silver Housing Bonus to boost retirement income for seniors right-sizing their homes

- **Source:** Ministry of National Development
- **Published:** 2025-03-05T08:00:00.000Z
- **Author:** Ministry of National Development
- **Original:** https://www.mnd.gov.sg/newsroom/press-releases/view/enhancements-to-silver-housing-bonus-to-boost-retirement-income-for-seniors-right-sizing-their-homes
- **Topics:** HDB & Public Housing, Private Residential, Investment & Capital Markets

## Featured rationale

The enhancements could encourage more seniors to right-size, potentially increasing larger-home resale supply while supporting demand for smaller HDB flats and Community Care Apartments.

## AI summary

From 1 December 2025, the enhanced Silver Housing Bonus will reach $40,000 for eligible seniors moving to 2-room or smaller flats and cover 15,000 more seniors.

## Original article

At MND’s Committee of Supply debate today, Minister for National Development Mr Desmond Lee announced several enhancements to the Silver Housing Bonus (SHB) to provide greater support to seniors who right-size to a 3-room or smaller HDB flat to supplement their retirement income. The following enhancements will take effect from 1 December 2025:

Adjustment to the eligibility criteria so that seniors will qualify for SHB when they commit to a net increase of up to $60,000 in their CPF Retirement Account (RA) after right-sizing, with the sum going towards their retirement payouts. The amount can come from their CPF housing refunds[1], which means that seniors may no longer need to make a cash top-up to qualify for the SHB;

Additional $10,000 cash bonus for seniors who right-size to a 2-room or smaller flat, including Community Care Apartments (CCAs), bringing the maximum SHB quantum to $40,000 (from the current $30,000); and

Extension of eligibility for SHB to seniors who right-size from a private residential property with an Annual Value (AV) between $21,000 and $31,000.

Currently, seniors qualify to receive SHB of up to $30,000 if they make a cash top-up to their CPF RA using part of their net sale proceeds[2] from right-sizing and when they join CPF LIFE. The required cash top-up amount depends on the net sale proceeds and is capped at $60,000 per household. If the cash top-up is less than $60,000, the cash bonus is pro-rated at $1 bonus for every $2 of cash top up into their CPF RA.

The cash top-up requirement will be adjusted such that seniors will qualify for the SHB as long as they commit to a net increase of up to $60,000 in their CPF RA after right-sizing, for their retirement payouts. This amount can come from their CPF housing refunds, which means that seniors may no longer need to make a cash top-up to qualify for the SHB. Details are set out in Table 1.

Table 1: Changes to the CPF requirement for SHB

Current

With effect from 1 Dec 2025

CPF RA requirementA

Cash top-up required depends on proceeds, capped at $60,000 per householdB:

· If net sale proceeds ≥$60,000, cash top-up to RA must be $60,000.

· If net sale proceeds <$60,000, seniors must top up all proceeds in cash into CPF RA. Cash bonus is pro-rated based on the cash top-up amount.

Amount committedC to their CPF RA for retirement payouts depends on proceeds, capped at $60,000 per householdB:· If net sale proceeds ≥$60,000, amount committed must be $60,000.· If net sale proceeds <$60,000, amount committed must equal the net sale proceeds. Cash bonus is pro-rated based on the amount committed (see Table 2.)

Amount committedC to their CPF RA for retirement payouts depends on proceeds, capped at $60,000 per householdB:

· If net sale proceeds ≥$60,000, amount committed must be $60,000.

· If net sale proceeds <$60,000, amount committed must equal the net sale proceeds. Cash bonus is pro-rated based on the amount committed (see Table 2.)

Note:

A. Other eligibility criteria can be found in Annex A.

B. Further capped by the prevailing Full Retirement Sum.

C. Includes CPF housing refund and/or cash top-ups.

Higher maximum SHB quantum

Currently, eligible seniors qualify for the maximum SHB quantum of up to $30,000, with SHB bonus pro-rated at $1 bonus for every $2 top-up made. With effect from 1 December 2025, the Government will provide an additional $10,000 cash bonus to seniors who right-size to a 2-room or smaller flat, including Community Care Apartments. The additional cash bonus of $10,000 will apply regardless of the amount that the senior commits to their CPF retirement payouts, i.e. there will be no pro-ration based on the amount committed. Including this additional $10,000 cash bonus, the maximum SHB quantum that eligible seniors may receive will be increased to $40,000.

Extending SHB to senior private residential property owners with AV between $21,000 and $31,000 when they right-size

Currently, only seniors who own an HDB flat or private residential property with an AV of $21,000 or less are eligible for SHB. To provide support to more seniors living in lower-value private residential properties, the Government will extend SHB to seniors who sell their private residential property with AV between $21,000 and $31,000. However, this group of seniors will receive a lower SHB quanta of up to $10,000 if they right-size to a 3-room flat, or up to $20,000 if they right-size to a 2-room flat. With this extension, more than 15,000 additional seniors can qualify for SHB. Altogether, SHB will now cover more than 3 in 4 residential properties. Details of the higher SHB quantum and extension of SHB to more residential properties are set out in Table 2, with illustrations of how SHB is computed in Annex B.

Table 2: Changes to the SHB cash bonus quantum and coverage

Flat type of new flat after right-sizing

Seniors who own an HDB flat or private residential property of AV ≤ $21,000

Seniors who own a private residential property of $21,000 < AV ≤ $31,000

3-room flat (excluding 3-room terraces)

Up to $30,000, with cash bonus pro-rated at $1 bonus for every $2 committed towards CPF RA for retirement payouts

[From 1 Dec 2025] Up to $10,000, with cash bonus pro-rated at $1 bonus for every $6 committed towards CPF RA for retirement payouts

2-room or smaller flat (including CCAs)

Same as above[From 1 Dec 2025] Additional $10,000 cash bonus (not pro-rated) on top of bonus above, for right-sizing to a 2-room or smaller flat

Same as above

[From 1 Dec 2025] Additional $10,000 cash bonus (not pro-rated) on top of bonus above, for right-sizing to a 2-room or smaller flat

Total maximum bonus

Up to $30,000 (if they right-size to a 3R flat)Up to $40,000 (if they right-size to a 2R flat)

Up to $30,000 (if they right-size to a 3R flat)

Up to $40,000 (if they right-size to a 2R flat)

Up to $10,000 (if they right-size to a 3R flat)Up to $20,000 (if they right-size to a 2R flat)

Up to $10,000 (if they right-size to a 3R flat)

Up to $20,000 (if they right-size to a 2R flat)

These three enhancements will take effect from 1 December 2025. Eligible seniors who wish to benefit from these enhancements may apply for SHB after these enhancements are implemented.

Extending greater Support for seniors in their retirement years

Besides SHB, seniors can also tap on other monetisation options to unlock the value of their flats to supplement their retirement income. Those who prefer to live in their existing HDB flat can rent out their spare bedroom(s) or consider selling part of the remaining lease of their flat back to HDB under the Lease Buyback Scheme (LBS).

The Government remains committed to supporting seniors and encourages Singaporeans to plan ahead to ensure financial stability to meet retirement needs.

Issued by: MND & HDB

Date: 5 March 2025

[1] CPF housing refund refers to the CPF principal amount withdrawn to purchase a property and the accrued interest that needs to be refunded after selling the property. For seniors (i.e. aged 55 and above), CPF housing refunds will be first refunded to the RA up to members’ cohort Full Retirement Sum. Any balance housing refund will remain in the Ordinary Account.

[2] ‘Proceeds’ is defined as the selling price of the current property minus the sum of any outstanding loan on the current property, purchase price of the next flat, resale levy payable, and subsidy recovery for Plus and Prime flats.

Annex A: Eligibility Criteria for Silver Housing Bonus

Annex B: Illustrated examples

## Chinese translation

> Translation model: grok_cli

### 加强乐龄屋契兑现花红，提升缩屋乐龄人士的退休收入

在国家发展部今日的预算案委员会辩论上，国家发展部部长李智陞先生宣布多项对乐龄屋契兑现花红（SHB）的加强措施，为缩屋至三房式或更小组屋（HDB）单位以补充退休收入的乐龄人士提供更大支持。以下加强措施将自2025年12月1日起生效：

调整资格标准，使乐龄人士在缩屋后承诺向其公积金退休账户（RA）净增加最多60,000新元、并将该款项用于退休派息时，即可符合SHB资格。该款项可来自其公积金房屋退款[1]，这意味着乐龄人士可能不再需要以现金补足才能符合SHB资格；

对缩屋至两房式或更小单位（包括社区护理公寓（CCA））的乐龄人士，额外提供10,000新元现金花红，使SHB最高金额提高至40,000新元（目前为30,000新元）；以及

将SHB资格扩展至从年值（AV）介于21,000新元至31,000新元之间的私人住宅物业缩屋的乐龄人士。

目前，若乐龄人士以缩屋所得净售房收益[2]的一部分，以现金补足其公积金退休账户，并加入公积金终身入息计划（CPF LIFE），即可获得最高30,000新元的SHB。所需现金补足额取决于净售房收益，每户上限为60,000新元。若现金补足额少于60,000新元，则现金花红按每向公积金退休账户现金补足2新元获1新元花红的比例计算。

现金补足要求将作调整，使乐龄人士只要在缩屋后承诺向其公积金退休账户净增加最多60,000新元用于退休派息，即可符合SHB资格。该款项可来自其公积金房屋退款，这意味着乐龄人士可能不再需要以现金补足才能符合SHB资格。详情见表1。

表1：SHB公积金要求的变更

现行

自2025年12月1日起生效

公积金退休账户要求A

所需现金补足额取决于收益，每户上限为60,000新元B：

· 若净售房收益≥60,000新元，向退休账户的现金补足必须为60,000新元。

· 若净售房收益＜60,000新元，乐龄人士必须将全部收益以现金补入公积金退休账户。现金花红按现金补足额按比例计算。

承诺用于退休派息而存入其公积金退休账户的金额C取决于收益，每户上限为60,000新元B：· 若净售房收益≥60,000新元，承诺金额必须为60,000新元。· 若净售房收益＜60,000新元，承诺金额必须等于净售房收益。现金花红按承诺金额按比例计算（见表2。）

承诺用于退休派息而存入其公积金退休账户的金额C取决于收益，每户上限为60,000新元B：

· 若净售房收益≥60,000新元，承诺金额必须为60,000新元。

· 若净售房收益＜60,000新元，承诺金额必须等于净售房收益。现金花红按承诺金额按比例计算（见表2。）

注：

A. 其他资格标准见附件A。

B. 另受当时适用的全额退休存款上限约束。

C. 包括公积金房屋退款及／或现金补足。

提高SHB最高金额

目前，符合资格的乐龄人士可获最高达30,000新元的SHB金额，花红按每补足2新元获1新元花红的比例计算。自2025年12月1日起，政府将向缩屋至两房式或更小单位（包括社区护理公寓）的乐龄人士额外提供10,000新元现金花红。该额外10,000新元现金花红不论乐龄人士承诺用于公积金退休派息的金额多少均适用，即不会按承诺金额按比例削减。计入这项额外10,000新元现金花红后，符合资格的乐龄人士可获的最高SHB金额将提高至40,000新元。

将SHB扩展至年值介于21,000新元至31,000新元、缩屋的私人住宅物业乐龄业主

目前，仅拥有组屋单位，或年值不超过21,000新元的私人住宅物业的乐龄人士符合SHB资格。为向更多居住在较低价值私人住宅物业的乐龄人士提供支持，政府将把SHB扩展至出售年值介于21,000新元至31,000新元的私人住宅物业的乐龄人士。不过，该组别的乐龄人士若缩屋至三房式单位，最高可获较低的SHB金额达10,000新元；若缩屋至两房式单位，最高可达20,000新元。经此扩展后，将有超过15,000名额外乐龄人士可符合SHB资格。综合而言，SHB现将覆盖超过四分之三的住宅物业。更高SHB金额及将SHB扩展至更多住宅物业的详情见表2，SHB计算方法的示例见附件B。

表2：SHB现金花红金额与覆盖范围的变更

缩屋后新单位的单位类型

拥有组屋单位或年值≤21,000新元私人住宅物业的乐龄人士

拥有年值21,000新元＜AV≤31,000新元私人住宅物业的乐龄人士

三房式单位（不包括三房式排屋）

最高30,000新元，现金花红按每向公积金退休账户承诺2新元用于退休派息获1新元花红的比例计算

［自2025年12月1日起］最高10,000新元，现金花红按每向公积金退休账户承诺6新元用于退休派息获1新元花红的比例计算

两房式或更小单位（包括CCA）

同上［自2025年12月1日起］在上述花红之外，另加10,000新元现金花红（不按比例削减），适用于缩屋至两房式或更小单位者

同上

［自2025年12月1日起］在上述花红之外，另加10,000新元现金花红（不按比例削减），适用于缩屋至两房式或更小单位者

最高花红总额

最高30,000新元（若缩屋至三房式单位）最高40,000新元（若缩屋至两房式单位）

最高30,000新元（若缩屋至三房式单位）

最高40,000新元（若缩屋至两房式单位）

最高10,000新元（若缩屋至三房式单位）最高20,000新元（若缩屋至两房式单位）

最高10,000新元（若缩屋至三房式单位）

最高20,000新元（若缩屋至两房式单位）

这三项加强措施将自2025年12月1日起生效。希望受惠于这些加强措施的符合资格乐龄人士，可在措施实施后申请SHB。

在退休岁月为乐龄人士提供更大支持

除SHB外，乐龄人士亦可利用其他变现选择，释放其组屋价值以补充退休收入。若希望继续居住在现有组屋单位，可出租空余睡房，或考虑在租约回购计划（LBS）下将单位剩余租约的一部分售回建屋发展局（HDB）。

政府继续致力于支持乐龄人士，并鼓励新加坡人为确保财务稳健、满足退休需求而提前规划。

发布机构：国家发展部及建屋发展局

日期：2025年3月5日

[1] 公积金房屋退款指为购买物业而提取的公积金本金，以及出售物业后需退还的累计利息。对乐龄人士（即55岁及以上）而言，公积金房屋退款将首先退入退休账户，直至达到会员所属群组的全额退休存款。任何剩余房屋退款将留在普通账户。

[2] “收益”定义为现有物业售价，减去现有物业任何未清还贷款、下一单位购价、应付转售征费，以及Plus与Prime单位的补贴收回金额之和。

附件A：乐龄屋契兑现花红资格标准

附件B：计算示例