Silver Housing Bonus

The Silver Housing Bonus (SHB) provides support to seniors who right-size to a 3-room or smaller HDB flat to supplement their retirement income.

With effect from 1 December 2025, the SHB has been enhanced to provide greater support to seniors. Find out how you can apply for the SHB and receive a cash bonus of up to $40,000 per household, when you commit to the required net increase in your CPF Retirement Account (RA) and join CPF LIFE. 

Eligibility conditions

You must meet the eligibility conditions to buy an HDB flat and obtain a valid HDB Flat Eligibility (HFE) letter before you may apply to buy a flat from HDB or before you obtain an Option to Purchase (OTP) from a flat seller. A valid HFE letter is required when both you and the seller submit the resale application to HDB.

Your eligibility for the SHB will be assessed at the point of SHB application.

Criteria Eligibility
Citizenship At least 1 owner must be a Singapore Citizen (SC)
Age The SC is aged 55 or above
Gross monthly household income $14,000 or less
Existing property

HDB flat (met minimum occupation period for resale) or a private residential property with an Annual Value (AV) of up to $31,000 
Ownership or interest in other property You must not concurrently:
  • Own or have interest in a private residential property
  • Own or have interest in more than 1 non-residential property
Next property you are buying
  • 3-room (excluding 3-room terrace)
  • 2-room or smaller flat, including Community Care Apartment
Net sale proceeds

You must have positive net sale proceeds.

Sale proceeds is the selling price of existing residential property less the following:

  1. Any outstanding housing loan on the existing residential property
  2. Purchase price of the next flat
  3. Resale levy payable (if applicable)
  4. Subsidy recovery (if applicable) for Plus and Prime[1] flats

[1] Including Prime Location Public Housing (PLH) flats
Timeframe between the housing transactions

Booking of new HDB flat, or submission of flat application to buy resale flat must either be:

  • Before sale of existing residential property

or

  • Within 12 months of completing the sale of the existing residential property
Timeframe to submit SHB application

You will be informed of the SHB application procedure during the completion appointment of your second housing transaction (sale or purchase).

You must submit your application for SHB within 1 year from the legal completion date of the second housing transaction (sale or purchase).

Required net increase in your CPF Retirement Account

To qualify for SHB, you need to commit to a net increase of up to $60,000[1] in your CPF RA after right-sizing, with the sum going towards your retirement payouts. You can do so using your CPF housing refunds[2], if sufficient, and may no longer need to make the top-up in cash.

[1] The net increase to commit in your CPF RA depends on the net sale proceeds and is capped at $60,000 per household. It is further capped by the prevailing Full Retirement Sum (FRS).

[2] CPF principal amount withdrawn to purchase a property and the accrued interest that needs to be refunded after selling the property.

Your Silver Housing Bonus amount

You can receive an SHB amount of $30,000 per household if you commit to a net increase of $60,000 in your CPF RA after right-sizing. If the amount committed is less than $60,000, you will receive a pro-rated cash bonus.

You can qualify for an additional $10,000 cash bonus if you right-size to a 2-room or smaller flat, including a Community Care Apartment (CCA). This additional $10,000 bonus applies regardless of the amount you commit to your CPF RA.

Overall, the maximum SHB amount that eligible seniors may receive is $40,000. Refer to the following table for the SHB amounts and coverage.

Existing Property Next Property You Are Buying SHB Amount Maximum SHB Amount
  • HDB flat
  • Private residential property with AV $21,000 or less

3-room flat (excluding 3-room terrace)

Up to $30,000[1]

$30,000

2-room or smaller flat, including CCA
  • Up to $30,000[1]
  • Additional $10,000 (not pro-rated) for right-sizing to a 2-room or smaller flat, including CCA
 $40,000
Private residential property with AV between $21,000 and $31,000

3-room flat (excluding 3-room terrace)

 Up to $10,000[2] $10,000

2-room or smaller flat, including CCA
  • Up to $10,000[2]
  • Additional $10,000 (not pro-rated) for right-sizing to a 2-room or smaller flat, including CCA
 $20,000

[1] With cash bonus pro-rated at $1 bonus for every $2 committed towards CPF RA for retirement payouts
[2] With cash bonus pro-rated at $1 bonus for every $6 committed towards CPF RA for retirement payouts

Example 1: Senior couple right-sizing to a 3-room flat

Mr and Mrs Tan are selling their subsidised 5-room flat in Yishun for $705,000 and buying a new 3-room flat in Woodlands for $275,000.

If they commit a combined amount of $60,000 from their CPF housing refunds towards their CPF RA for their retirement payouts, they will enjoy an SHB of $30,000 with no cash top-up.

Proceeds From Right-Sizing
Selling price of current 5-room flat $705,000
Outstanding loan for current 5-room flat - $100,000
Purchase price of 3-room flat - $275,000
Resale levy payable - $45,000
Net proceeds $285,000
 
SHB Application
  Mr Tan's CPF RA Mrs Tan's CPF RA
CPF housing refund credited to CPF RA from sale of 5-room flat
 $40,000 $20,000

CPF housing refund in CPF RA committed towards retirement payouts

Mr and Mrs Tan are required to commit to a net increase of $60,000 to their CPF RA for their retirement payouts as a household

 $40,000 $20,000
Additional cash top-up

No cash top-up needed

Mr and Mrs Tan have committed to a net increase of $60,000 in their CPF RA for their retirement payouts, using their CPF housing refund
Mr Tan’s Cash Bonus Mrs Tan’s Cash Bonus

Cash bonus (pro-rated)

$1 cash bonus for every $2 committed towards retirement payouts

 $20,000 $10,000
Combined total cash bonus $30,000

Example 2: Senior couple right-sizing to a 2-room Flexi flat

Mr and Mrs Bala are selling their subsidised 5-room flat in Yishun for $705,000 and buying a new 2-room Flexi flat (on a 30-year lease) in Woodlands for $83,000.

As they are right-sizing to a 2-room Flexi flat and committing a combined amount of $60,000 from their CPF housing refunds towards their CPF RA for their retirement payouts, they will enjoy a higher SHB of $40,000 with no cash top-up.

Proceeds From Right-Sizing
Selling price of current 5-room flat $705,000
Outstanding loan for current 5-room flat - $100,000
Purchase price of 2-room Flexi flat (30-year lease) - $83,000
Resale levy payable - $15,000
Net proceeds $507,000
 
SHB Application
  Mr Bala’s CPF RA Mrs Bala’s CPF RA
CPF housing refund credited to CPF RA from sale of 5-room flat
 $40,000 $30,000

CPF housing refund in CPF RA committed towards retirement payouts

Mr and Mrs Bala are required to commit to a net increase of $60,000 to their CPF RA for their retirement payouts as a household

 $30,000 $30,000
Additional cash top-up

No cash top-up needed

Mr and Mrs Bala have committed to a net increase of $60,000 in their CPF RA for their retirement payouts, using their CPF housing refund
Mr Bala’s Cash Bonus Mrs Bala’s Cash Bonus

Cash bonus (pro-rated)

$1 cash bonus for every $2 committed towards retirement payouts

 $15,000 $15,000

Additional cash bonus of $10,000 (not pro-rated) for right-sizing to a 2-room Flexi flat (30-year lease)

Based on proportion of homeowners’ amount committed towards retirement payout

 $5,000 $5,000

Individual total cash bonus

 $20,000 $20,000
Combined total cash bonus $40,000

Example 3: Senior who owns private property with Annual Value of $25,000

Mr Ahmad and Mdm Siti are selling their private property with an annual value (AV) of $25,000 in Yishun for $970,000 and buying a 2-room Flexi flat (on a 30-year lease) in Woodlands for $83,000.

They will qualify for the SHB if they commit a combined amount of $60,000 from their CPF housing refunds towards their CPF RA for their retirement payouts. They will enjoy an SHB of $20,000 with no cash top-up.

Proceeds From Right-Sizing
Selling price of current private property $970,000
Outstanding loan for current private property No outstanding loan
Purchase price of 2-room Flexi flat (30-year lease) - $83,000
Resale levy payable - $15,000
Net proceeds $872,000

SHB Application
  Mr Ahmad's CPF RA Mdm Siti's CPF RA
CPF housing refund credited to CPF RA from sale of private property 
 $80,000 $60,000

CPF housing refund in CPF RA committed towards retirement payouts

Mr Ahmad and Mdm Siti are required to commit to a net increase of $60,000 to their CPF RA for their retirement payouts as a household

 $30,000 $30,000
Additional cash top-up

No cash top-up needed

Mr Ahmad and Mdm Siti have committed to the net increase of $60,000 to their CPF RA for their retirement payouts, using their CPF housing refund

Mr Ahmad's Cash Bonus Mdm Siti's Cash Bonus

Cash bonus (pro-rated)

$1 cash bonus for every $6 committed towards retirement payout

 $5,000 $5,000

Additional cash bonus of $10,000 (not pro-rated) for right-sizing to a 2-room Flexi flat (30-year lease)

Based on proportion of homeowners’ amount committed towards retirement payout

 $5,000 $5,000

Individual total cash bonus

 $10,000 $10,000
Combined total cash bonus $20,000

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