Information for Seniors

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.

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-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.

Rehousing options

Senior SERS flat owners 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 (BTO) or Sale of Balance Flats (SBF) exercise, or open booking with SERS rehousing benefits. There is a 10% priority allocation for applications under BTO or SBF exercise, excluding Community Care Apartments and Prime Location Public Housing flats, if applicable
• Receive ex-gratia payment on top of the compensation instead of the SERS rehousing benefits
• Sell or transfer your flat with SERS rehousing benefits

Additional option for SERS sites announced on or after 7 Apr 2022

• Take up the Lease Buyback Scheme (LBS) for the SERS flat and thereafter, buy a new 3-room or larger replacement flat, of up to the same flat type and lease as the SERS flat after LBS. Under LBS, you may choose to retain a lease term for the current flat to cover you till the age of at least 95 and sell the tail-end lease to HDB. The LBS proceeds will be used to top up your CPF Retirement Account (RA) for the purchase of a CPF LIFE plan for lifelong monthly payouts. You will receive an LBS cash bonus of up to $30,000 for the CPF RA top-up. The market compensation for the lease retained can be used to buy a new 3-room or larger replacement flat, of up to same flat type and lease length of the SERS flat after LBS.

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.    

Note:

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.