A top pair is purchasing a new three-bedroom apartment in Woodlands for S$ 705, 000 and selling their five-bedroom apartment in Yishun for S$ 705, 000.
After deducting the costs of their new apartment, an outstanding loan on their current apartment ( S$ 100, 000 ), and a resale levy ( S$$ 45, 000 ), the net sale proceeds amount to S$ 285, 000.
To be eligible for the maximum cash reward of S$ 30, 000, the couple now needs to top off their CPF Retirement Accounts with a combined income top-up of S$ 60, 000.
The child’s CPF Retirement Accounts will be able to receive housing payments when the shifts start to occur on December 1.
No money top-up is required as long as the few commits a total of S$ 60, 000 from this to their CPF Retirement Accounts. They will also get the S$ 30, 000 opportunity.
Another case: a mature pair will sell their personal residence in Yishun and walk into a two-bedroom flexibility apartment in Woodlands with a 30-year contract worth S$ 83,000. The personal property was sold for S$ 970,00 000 when it was first listed for an annual benefit of S$ 25, 000.
The few will not be available for the system at the moment because their property’s annual value is more than S$ 21 000.
However, starting on December 1, this may change.
A couple may get a S$ 20, 000 dollars reward if they commit a total of S$ 60, 000 from their Pension housing payments to their CPF Retirement Accounts. What is an additional incentive of S$ 10, 000 is offered to those who upgrade to a two-room or smaller level.