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26 June 2023

elderly couple enjoying a video

You might have heard of recent chatter in the news about seniors having more housing options in retirement, but do you know that your flat can also be an additional source of retirement income, regardless of whether you move out or continue living in it?


If you are approaching retirement and looking for passive income streams, you can consider monetising your home. The Silver Housing Bonus and Lease Buyback scheme are two options that provide financial incentives and flexibility to seniors for a more comfortable retirement:

Silver Housing Bonus

Many seniors may find themselves living in larger flats in retirement, which can be challenging to maintain and unsuitable for their changing lifestyle needs, especially if they become ‘empty nesters’ after their children have moved out. By right-sizing to a smaller and more manageable flat, you can reduce maintenance costs and boost your retirement income through your sales proceeds. You can also receive a cash bonus through the Silver Housing Bonus (SHB).

benefits and eligibility of the silver housing bonus

The amount of the Silver Housing Bonus you can receive depends on factors such as the flat type and the required top-up amount to your CPF Retirement Account (RA).

Lease Buyback Scheme

If you prefer to continue living in your current home, you can consider the Lease Buyback Scheme (LBS) instead. The LBS allows eligible seniors to sell part of their lease back to the Housing and Development Board (HDB) and provides the opportunity for you to age in a familiar environment.

benefits and eligibility of the lease buyback scheme

Under the LBS, you can receive a cash bonus, which is determined by factors such as the remaining lease duration, flat type, and the top-up amount to your CPF RA.

A secure and fulfilling retirement involves several key components, including a steady and lifelong income stream, sufficient funds for your basic healthcare needs, as well as a fully paid-up home. Beyond not having to worry about your housing loan in retirement, it’s also important for all of us to have options. These two housing schemes give you the flexibility of different housing options in your golden years and an extra boost to your retirement income.


To enhance your retirement journey, please ensure that you understand and effectively utilise the available housing options from CPF and HDB. While retirement seems like a time of uncertainty and changes, planning ahead will pave the way for a smoother transition!

Information accurate as of date of publication.