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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. Generally, RA savings cannot be used for housing as these are intended for retirement.
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.
If the SERS flat was held in joint tenancy, the flat will be passed on to the co-owner(s). The application for the new flat can be retained if the surviving co-owner(s) meet the eligibility conditions to own a flat then, 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, or according to the Intestate Succession Act. If their beneficiaries are eligible and want to take over the SERS flat, and they are the existing occupiers, they can keep the existing SERS rehousing benefits. Otherwise, we will reassess the SERS rehousing benefits.
Senior SERS flat owners can choose from one of the following rehousing options:
Additional option for SERS sites announced on or after 7 Apr 2022
If you are at least 55 years old and top up your CPF RA, you may also be eligible for a Silver Housing Bonus of up to $30,000 per household when you buy a 3-room or smaller flat.
2-room Flexi flats on short lease of between 15 and 45 years (in 5-year increments) are available for flat owners who are at least 55 years old at the point of SERS announcement.
5-room and 3Gen flats are offered at selected SERS replacement precincts only.
Community Care Apartments on short lease of between 15 and 35 years (in 5-year increments) are available in selected exercises for flat owners who are at least 65 years old at the point of SERS announcement.
Please speak to your SERS journey manager to find out more about schemes and bonuses for seniors.
See what flat owners of Blocks 562 to 565 Ang Mo Kio Avenue 3 can look forward to at the new site in Ang Mo Kio Drive, which will be developed for them to live in and enjoy.
Get the site and replacement flat details, as well as the status of announced SERS projects.
Rehousing benefits are based on the status of the households. The benefits may include a SERS grant, concessions on resale levy or premium, and type of flat eligible for.
We will pay you the compensation based on the market value of your flat as at the time of SERS announcement, and some reasonable expenses to help you move.