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Silver Housing Bonus up to 20k: $60k to CPF, $0 to cash?

I refer to the HDB’s three-quarter page color advertisement on page B11 of the Straits Times on 21 July “A roof over your head, an income for life”

It states that “Did you know?

Right-Sizing – If you sell your existing flat and buy a smaller flat type (up to 3-room flat). You can apply for the Silver Housing Bonus (SHB)”

Under the SHB – if your net sales proceeds from selling your flat is less than $60,000 – your entire net sales proceeds must be used to top-up your CPF account.

This means that you will not get a single cent of your net sales proceeds in cash.

In exchange, you will get $1 for every $3 top-up under the SHB, up to a maximum of $20,000.

Pay resale levy?

Also, according to the HDB’s web site – those who have received a housing grant has to pay a resale levy of up to $55,000.

Moreover, according to the article “6 things you weren’t told about the CPF housing grant” (theonlinecitizen, Feb 21, 2017) – “you need to return the grants back into your CPF account when you sell the HDB flat, PLUS ACCRUED INTEREST over the duration of your occupation in the flat. This is on top of ALL the CPF monies used for your flat purchase (PLUS accrued interest)”.

Hence, even if your HDB flat has appreciated in value, don’t be surprised if you are left with little cash proceeds when you sell your flat.

Finally, how many Singaporeans have benefited under the SHB?


Leong Sze Hian



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5 Responses to “Silver Housing Bonus up to 20k: $60k to CPF, $0 to cash?”

  • LIONS:

    Enuf said!


    Time to cut the BS!
    You are dealing with issues on re-active rather than PRO-ACTIVE manner despite constant harping of Ageing population issues.

    GD Star Rating
  • NotMyProblem:

    So now is jumping from the frying pan into the fire!! Which is better, frying pan or the fire?

    GD Star Rating
  • oxygen:

    RESALE LEVY IS ILLEGAL BACK DOOR TAX, now comes the HDB Silver bonus of poisoned lolly inducement.

    By the time you go to TERN SUA, there will be new regulations to tax on your “subsidy” of Silver bonus – JUST WAIT AND SEE if my prediction is right.

    Remember the resale levy introduced in 2006 were backdated to even apply to those pioneer generation (if you sold your HDB for a “profit” to downgrade to a 2-rm 30-yr lease SEXY who even bought HDB housing decades earlier.

    SO DON’T READ PAPpy News Publishing and believing their “good news” sh*t now. Look at PAPpys behavior after what they said, not what they promised you now.

    GD Star Rating
  • HarderTruths:

    We live in their houses, give them all our money and work to maintain their lifestyles and salaries.

    What more can any pappy want? Better than Heaven.

    GD Star Rating
  • Bobo:

    Whether we go Casino to gamble or not we still lost our hard earned money every day. We all are living inside this giant Casino with no return and no chance of taking our money back.

    GD Star Rating

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