Around 90 per cent received between S$ 100, 000 and S$ 300, 000 through the system.
Seniors who use the proceeds to top up their CPF Retirement Account (RA ) can also receive a bonus, which ranges from S$ 7,500 to S$ 30,000, depending on their flat type and top-up.
The total prize will be given to those who top up S$ 60, 000 or more from their gross revenues. As of Jun 30, 93 per cent ( 11, 715 households ) received the full bonus.
” Habits where all users are enrolled in the CPF LIFE program received a median monthly payment of about$ 1, 000,” said HDB.
Letting OUT
Seniors who want to add to their retirement income may also choose to rent out their entire apartment or give rooms, according to HDB.  ,
” From January to June 2024, there were 10, 301 uses to hire out whole cottages and 21, 219 uses to hire out bedrooms made by older households”, it added.
They can also choose the Metal Housing Bonus program, which was introduced in 2013 and aims to assist seniors who “right-size” themselves to a 3-bedroom or smaller level.
In order to keep housing policies current and responsive to seniors ‘ changing needs and preferences, HDB said it will continue to examine the accommodation needs of seniors.