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Anonymous

11 Sep 2019

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Is the Silver Housing Bonus a good deal?

In order for me to get the $20,000 Silver Housing Bonus in cash from the government, I need to put $60,000 to my CPF Retirement Account (from sales proceeds of my flat). Is this a good deal?

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It depends on what your needs are. If you want to continue to stay in your existing flat, you can explore the Lease Buy Back Scheme. Silver Housing bonus is put in place such that older folks can downgrade to a smaller flat and enjoy the 20,000 grant. 60,000 in your CPF RA gives you about $450-$550 of monthly income

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