3 schemes to improve your parents’ comfort and retirement income

We want our elderly parents to be comfortable in their golden years. In this post, we will share with you 3 schemes – the Lease Buyback Scheme, Silver Housing Bonus and 2-Room Flexi Scheme – to enhance their home environment as well as their retirement income.

A. Lease Buyback Scheme (LBS)

The LBS allows your parents to sell part of their flat’s lease to HDB and channel the sale proceeds to their CPF Retirement Account (RA). The money is used to purchase a CPF LIFE plan that provides a steady monthly income during retirement.


  • Choose the lease term that you want for your current flat

  • Supplement your CPF Retirement Account and receive monthly pay-outs from CPF LIFE

  • Receive the excess proceeds (after top-up) as a cash payment


  • Singaporean, aged 64 and above

  • Lives in a 4-room flat or smaller

  • No concurrent ownership of second property

  • Minimum of 20 years of lease to sell

  • All owners living in the flat for at least 5 years

  • Gross monthly household income of $12,000 or less

How to apply

  • Visit My HDB Page

  • Proceed to My Flat > Purchased Flat – Flat Details

Visit HDB to learn more.

 B. Silver Housing Bonus (SHB)

If your parents live in a bigger HDB flat, the SHB allows them to downsize their HDB flat and get a payout to supplement their retirement income. In doing so, they sell their existing flat and purchase a smaller and cheaper HDB flat, either from the resale market or from HDB. The net sales profit is put into their CPF retirement account to be included under CPF LIFE. Those who opt for this scheme will receive an up to $20,000 cash bonus from the government, on top of their net sales profit.


  • Right-size to a safer and more convenient living environment for an elderly resident

  • Supplement CPF Retirement Account and receive monthly pay out from CPF LIFE

  • Receive up to $20,000 cash bonus from government


  • Singaporean, aged 55 and above

  • Gross household monthly income of $12,000 or less

  • Owns a HDB flat (met Minimum Occupation Period for resale), or a private property of Annual Value of $13,000 or less

  • No concurrent ownership of second property

  • Next property must be a 3-room HDB flat or smaller, with purchase price not exceeding the selling price

  • Application to buy an HDB resale flat must be before the sale or within 6 months of finalising the sale of existing property

How to apply

Visit HDB for a better understanding of the process of applying for SHB

 C. 2-Room Flexi Scheme

The 2-Room Flexi Scheme is for elderly Singaporeans who are looking to purchase a shorter lease 2-room flat. Under this scheme, your parents will be given the flexibility to choose the lease period of their 2-room flat. Shorter lease flats will come with elder-friendly features, such as grab bars and non-slip floors.


  • Choose the length of lease between 15 and 45 years when your parents reach age 45

  • Choose elderly-friendly features for your parents

  • Convert their home equity into cash and CPF savings

  • Right-size to a safer and more convenient living environment for the elderly


  • Singaporean, aged 55 and above

  • Lease must last both your parents till age 95

  • Monthly household income must not exceed income ceiling

  • No ownership or share in other properties

How to apply

Visit HDB for the fees and costs involved in applying for Short-lease 2-room Flexi Flats

Interested In Learning More About Maximising House Subsidy Benefits For Your Elderly Parents?
Call 626-515-00 now for a free phone consultation!

Need more information?

Call 626-515-00 for a free phone consultation.