Looking to supplement your retirement income? Find out from fellow seniors on the available options to unlock the value of your home in your golden years!
Like many Singaporeans over the years, you may have bought an HDB flat to raise your family. Now, in your golden years, learn how your home can supplement your retirement income and support your lifestyle.
Join Ahmad and Nurijah as they show you around their home, where they enjoy tending to their garden. When their children moved out, Ahmad and Nurijah chose to right-size from a 5-room flat in Pasir Ris, to a 4-room flat in Woodlands.
(Did you know? Seniors who sell their flat and right-size to a 3-room or smaller flat can receive up to $30,000 Silver Housing Bonus if they top up their CPF account and join CPF LIFE.)
Ahmad and Nurijah also plan to take up the Lease Buyback Scheme when Nurijah turns 65. Under this scheme, they will sell part of their flat’s remaining lease to HDB and receive a cash bonus, as well as monthly payouts from CPF LIFE, for life. They can then continue to live in their flat and age in place. For extra retirement income, they can also rent out spare rooms in their flat, if they wish.
Watch the following video for a tour of their lovely home, which Nurijah designed by herself.