The Silver Housing Bonus (SHB) scheme provides elderly Singapore households with a cash bonus when they right-size to a 3-room or smaller flat, which can be bought either from HDB or the resale market.
How Does The Silver Housing Bonus (SHB) Work?
To qualify for SHB, each senior citizen household is required to make a top-up of their CPF Retirement Account (RA) in cash by using part of the net proceeds from right-sizing, and join CPF LIFE. The top-up amount required depends on the net proceeds, capped at $60,000 per household.
However, with effect from 1 December 2025, seniors who commit to a net increase of up to $60,000 in their CPF RA after right-sizing, with the sum going towards their retirement payouts, can qualify for SHB. They can do so using their CPF housing refunds. Thus, cash top-up is no longer mandatory from 1 December 2025 onwards to qualify for the SHB.
When you top-up $60,000 to your CPF Retirement Account, you will receive the maximum cash bonus of $30,000. If you cannot top-up the full $60,000, you will receive a pro-rated cash bonus based on a 1:2 ratio (i.e. $1 cash bonus for every $2 top-up made).
Source: HDB
Who Is Eligible For The Silver Housing Bonus (SHB)?
To be eligible for the Silver Housing Bonus (SHB), homeowners have to meet the following criteria.
- At least one owner has to be a Singapore Citizen aged 55 and above.
- Gross monthly income for the household must be below $14,000.
- The existing property they own must be an HDB flat, or a private property with an annual value of $21,000 or less. With effect from 1 December 2025, the SHB will be extended to seniors who right-size from a private residential property with an Annual Value (AV) between $21,000 and $31,000.
- Homeowners cannot concurrently own a private residential property or own or have an interest in more than one non-residential property.
- You must sell your existing property and purchase a 3-room or smaller HDB flat, either directly from HDB or the resale market.
How Much Top-ups Can You Make?
Ideally, you want to make a top-up of $60,000 to your CPF Retirement Account to receive the maximum cash bonus of $30,000. However, this may not always be the case.
To qualify for the Silver Housing Bonus (SHB), top-ups made to your CPF Retirement Account need to be from the proceeds of the sale of your existing home.
This is calculated based on the selling price of your existing home, less 1) any outstanding housing loan, 2) the purchase price of your next HDB flat (which has to be a 3-room or smaller flat) and 3) any resale levy, if applicable.
Example 1: Sufficient Proceeds
| Selling Price Of Existing Property | $420,000 |
| Less Outstanding Housing Loan |
$0 |
| Purchase Price Of Next Flat | $300,000 |
| Resale Levy | $0 |
| Proceeds | $120,000 |
| Top-up Required | $60,000 |
| Cash Bonus | $30,000 |
Example 2: Insufficient Proceeds
| Selling Price Of Existing Property | $350,000 |
| Less Outstanding Housing Loan |
$100,000 |
| Purchase Price Of Next Flat | $200,000 |
| Resale Levy | $0 |
| Proceeds | $50,000 |
| Top-up Required | $50,000 |
| Cash Bonus | $25,000 |
Example 3: No Proceeds
| Selling Price Of Existing Property | $247,000 |
| Less Outstanding Housing Loan |
$76,000 |
| Purchase Price Of Next Flat | $141,000 |
| Resale Levy | $30,000 |
| Proceeds | $0 |
| Top-up Required | $0 |
| Cash Bonus | N.A |
Here are some items to note.
Insufficient proceeds: If you do not have sufficient proceeds from the sale of your flat, you cannot choose to make an additional top-up to get the full SHB cash bonus. In the case of example 2, after selling their existing property ($350,000) and paying off their outstanding housing loan ($100,000) and the purchase of their new flat ($200,000), the proceeds is $50,000. In this case, the couple will receive $25,000 in cash bonus. They cannot choose to voluntarily top-up another $10,000 to receive the remaining $5,000 in cash bonus.
Proceeds capped by prevailing Full Retirement Sum (FRS): Proceeds made for SHB is meant for your Retirement Account but capped by the prevailing FRS.
You must purchase a 3-room or smaller flat: To qualify for the SHB, you must buy a 3-room or smaller flat. You cannot buy a flat which is 4-room and bigger or choose not to buy an HDB flat.
In addition, with effect from 1 December 2025, the Government will provide an additional $10,000 cash bonus to seniors who right-size to a 2-room or smaller flat, including Community Care Apartments. The additional cash bonus of $10,000 will apply regardless of the amount that the senior commits to their CPF retirement payouts. With this additional $10,000 cash bonus, the maximum SHB quantum that eligible seniors may receive will be increased to $40,000.
How Does The Silver Housing Bonus (SHB) Scheme Support Your Retirement?
The Silver Housing Bonus (SHB) scheme is particularly useful for older Singaporeans who own a large HDB flat they no longer need, and who do not feel they have enough retirement income. By utilising the Silver Housing Bonus, older Singaporeans can enjoy an additional top-up to their Retirement Account, which would provide them with a higher monthly lifelong payout via CPF LIFE.
This article was first written in March 2020 and we have updated it with the latest enhancement as announced in the Singapore Budget 2025
The post Guide To HDB Silver Housing Bonus Scheme, And How It Can Help You (Or Your Parents) With Retirement appeared first on DollarsAndSense.sg.
