Information for Elderly Owners of SERS Flat
If you are aged 55 and above, and own a Selective En bloc Redevelopment Scheme (SERS) flat, here are some important points to take note of.
Some of the compensation may be refunded to your CPF account. If you are aged 55 years and above, part of this refund will be used to meet your Full Retirement Sum in your Retirement Account (RA). The remaining CPF refund may be paid to you as cash or you can choose to leave them in your Ordinary Account (OA).
Use of refunded CPF money
Including family members in the application for a new flat
When buying the new flat, you can include immediate family members (parents or children; if eligible) as co-owners. If your family member currently owns a private property, had received SERS benefits or 2 housing subsidies previously, we will reassess the SERS rehousing benefits accordingly.
Flat owner passes away before collecting the keys to the new flat
If the SERS flat was held in joint tenancy, the flat will be passed on to the co-owners. For the new flat, the application can be retained if the surviving co-owners meet the eligibility conditions to own a flat, which we may change from time to time, and there will be no change to the SERS rehousing benefits.
If the deceased was the only owner of the new flat, their estate will be distributed according to their Will, if any. Otherwise, the estate will be distributed according to the Intestate Succession Act (for non-Muslims), or in accordance with Islamic inheritance laws (for Muslims).
Elderly owners of SERS flats can choose from one of the following rehousing options:
- Buy a new 2-room Flexi, 3-,4-,5-room, or 3Gen flat (if eligible) at the designated replacement site
- Apply for a 2-room Flexi, 3-,4-,5-room, or 3Gen flat (if eligible) elsewhere under our Build-To-Order or Sale of Balance Flats exercises with rehousing benefits and a 10% priority allocation, or Re-Offer of Balance Flats exercise with rehousing benefits
- Receive ex-gratia payment on top of the compensation instead of the SERS rehousing benefits
- Sell or transfer your SERS flat together with its rehousing benefits
If you meet the eligibility age, you may also apply for a Silver Housing Bonus of up to $20,000 per household when you buy a smaller flat type, up to a 3-room flat.
2-room Flexi flats on short lease are available for flat owners who are at least 55 years old at the point of SERS announcement. You can take up a lease of between 15 and 45 years in 5-year increments, as long as it covers you and your spouse up to age of at least 95 years old.
3Gen flats are available to multi-generation families with at least one Singapore Citizen or Singapore Permanent Resident, for selected SERS replacement precincts only.
Please speak to your journey manager to find out if you are eligible.