Senior Home Owners
Monetising your home equity
Ask yourself if you want to:
Stay put in your current home
Downsize to a smaller home
Move closer to your children
Unlock your housing equity for retirement income
Leave the property as a legacy for your children.
Review your expenses to see how they compare to your expected retirement income.
Keep track of how much you are spending each month and match it with your likely or expected retirement income, which may include your CPF payouts, retirement income insurance plan payouts and withdrawals from your savings and investments.
As you near the CPF payout start age of 65, you can better estimate your monthly CPF LIFE payout amount and get a clearer picture of your retirement expenses.
Use the CPF Monthly Payout Estimator to see if your CPF payouts meet your needs, and how your cash, investments and SRS savings can help provide for a higher level of retirement income.
You can also choose to delay starting your CPF LIFE payouts until age 70. For every year that you delay the start of your payouts, your CPF monthly payout increase by up to 7%.
Check the market value of your flat, if you have any outstanding loan, and the CPF to be refunded (including accrued interest) if you are planning to sell your home.
Click below to visit HDB site and check Resale Flat prices.
Optional Steps
Rightsizing
You sell your current flat and buy a smaller one.
If eligible, you can tap on the Silver Housing Bonus and receive a cash payout of up to $30,000 (or $40,000 from December 2025) if you top up your CPF Retirement Account with your sales proceeds and join CPF LIFE.
Your right-sizing options include buying from the resale market, or opting for HDB’s short lease 2-room flexi flats, or community care apartments.
Lease Buyback Scheme
You can opt for the Lease Buyback scheme if you wish to stay in your current flat but sell the tail end of your lease to HDB.
You can sell part of your flat’s lease to HDB and choose to retain the length of lease based on the age of the youngest owner. The proceeds from selling part of your flat’s lease will be used to top up your CPF Retirement Account (RA), which will be used to provide you with monthly payouts for life under CPF LIFE.
If eligible, you may receive an LBS bonus of up to $30,000.
Renting out a room
If you have an alternative place to stay, or if you have unused rooms in your home, you could rent it out for rental income.
In event of your untimely demise, the distribution of your assets will be determined by Singapore’s intestacy laws. This means that your estate may not be distributed according to your wishes.
Writing a will ensures that your wishes are clearly stated and provides protection for your loved ones.
Click below to download MoneyOwl’s End-of-Life and Estate Planning e-book to learn the essentials of estate planning and how to ensure your assets are distributed according to your wishes.
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