SINGAPORE — About 12,656 households have sold part of their flat's remaining lease back to the Housing Development Board (HDB) as of June 30, with nine in 10 receiving between S$100,000 and S$300,000.
SINGAPORE — About 12,656 households have sold part of their flat's remaining lease back to the Housing Development Board as of June 30, with nine in 10 receiving between S$100,000 and S$300,000.SINGAPORE — About 12,656 households have sold part of their flat's remaining lease back to the Housing Development Board as of June 30, with nine in 10 receiving between S$100,000 and S$300,000.
Under it, seniors living in all flat types can sell part of the flat’s lease back to HDB and choose to retain lease lengths from 15 to 35 years, based on their age and needs. Around 53 per cent of the 12,656 households who took up the scheme live in three-room or smaller flats, while about one-third or 33 per cent live in four-room flats. The remaining 14 per cent live in five-room and bigger flats.
"As a result of topping up to their CPF RA, households where all owners are enrolled to the CPF Life plan received a median monthly payout of about S$1,000," said HDB.Seniors who wish to supplement their retirement income can also opt to rent out their whole flat or spare bedrooms, said HDB.
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