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).
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-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:
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.
See what flat owners of Blocks 81 to 83 MacPherson Lane can look forward to at a new site in MacPherson, which will be developed for them to live in and enjoy.
Get the site and replacement flat details, as well as the status of 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.