Options for Private Property Owners Too

They can receive is $7,500 for topping up their RA by $60,000 or more.

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FROM A1 they can receive is $7,500 for topping up their RA by $60,000 or more. They receive $1 bonus for every $8 in top-up for amounts less than $60,000.

RIGHT-SIZING OPTION FOR THE CASH-POOR, ASSET-RICH HDB FLAT OWNERS Prof Sing said cash-poor and asset-rich families can consider right-sizing by selling their homes for a three-room or smaller HDB flat.

HDB flat owners aged 55 and above qualify for a maximum cash bonus of $30,000 under the Silver Housing Bonus scheme when they make a cash top-up of up to $60,000 to their RA with the proceeds from right-sizing.

From Dec 1, 2025, the maximum bonus amount goes up to $40,000 if they right-size to two-room or smaller flats, including community care apartments. The top-up does not need to be made in cash and can come from the housing re-funds to their Central Provident Fund (CPF) accounts.

Home owners who used their CPF monies for their homes have to put the amount back into their CPF accounts when they sell their homes.

HDB said that as at Dec 31, 2024, a total of 2,535 HDB households have taken up the Silver Housing Bonus since it was introduced in February 2013.

Most of the other families would have done their retirement planning and hence may not even need to monetise their homes to unlock a stream of extra cash for their retirement, Prof Sing added.

For those who need to do so, they can rent out rooms or the entire flat if they want to supplement their retirement needs, he said, adding that some seniors could move in with their children.