Golden Years withSERS - Enjoy your - HDB
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Enjoy your
Golden Years
with
SERS
黄金岁月就从选择性整体
重建计划开始
Our SERS Team
Welcome to SERS!
Having lived in your flat and this familiar environment for many years,
it is understandable if you are feeling a little anxious and uncertain
as we have announced the Selective En bloc Redevelopment
Scheme (SERS) for your block.
We have prepared this guide to give you the information you should
know about SERS in six simple points and an overview of your
rehousing options. We are here to work with you and your family to make
sure that your move to your new home is smooth and hassle-free.
Please read this booklet and visit the SERS exhibition to find out
more. At the SERS Connect which we will hold soon, you will have
another opportunity to meet with your SERS journey manager to verify
flat ownership and discuss the rehousing options and your financial
plan.
If you have any questions, please call our SERS enquiry line at
1800 866 3070.
My Guide to a
Because we have kept this guide simple, New Beginning
please also see “My SERS Guide” for with SERS
more detailed information
a Guide for our Seniors - 2018 Edition 1
1. What is SERS?
SERS was launched in August 1995 as part of the
Government’s continual effort to renew old housing
estates in Singapore.
SERS!
Through SERS, you are offered a unique opportunity
to unlock the value of your flat and move to a new In the latest
home while living close to old neighbours and familiar 2014/2015
surroundings.
survey, 85% of
the households
surveyed
were happy with
SERS and highly
satisfied with
their
new homes!
2. Where will my new flat be?
You may choose a 2-room Flexi, 3-, 4-, or 5-room flat
(if you are eligible) in MacPherson.
In and around the desirable precinct are many A NEW LIVING
amenities like the MacPherson MRT Station (Circle EXPERIENCE
Line and Downtown Line), Block 79 and 79A Circuit You will only
Road Food Centre, Block 89 MacPherson Market and move out of
Food Centre, MacPherson Community Club, Paya your flat when
Lebar Square and a brand new supermarket, eating your new home
houses and shops. flat is ready in
2023.
2 Enjoy your Golden Years with SERS
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IG
As the information provided is based on the current planning intent of the relevant government agencies, they are indicative only
and are subject to review from time to time.
The number of new flats to be built may change if we need to adjust the mix of flats to meet the rehousing needs of residents.
a Guide for our Seniors - 2018 Edition 3
3. Do I need more cash to buy
my new flat?
You will receive the market value of your flat as
compensation and some reasonable expenses to help
you move. You can use the compensation to pay (in
part or full) for a new flat at subsidised price.
Under SERS, eligible flat owners enjoy a
$15,000 (singles) or $30,000 (joint singles
and families) SERS grant to buy a new flat.
My SERS Guide
Some of the compensation may be refunded to your
Please see pages
4 and 5 for details CPF Account. If you are 55 years old and above, part of
on Compensation this refund will be used to meet your Full Retirement
Sum in your Retirement Account (RA). The remaining
CPF refund may be paid to you as cash or you can
choose to leave them in your Ordinary Account (OA).
4 Enjoy your Golden Years with SERS
We will make the CPF refund before you collect the keys to the new flat. At that
time, if you need to use the refunded CPF money to buy your new flat, we can
help you apply to the CPF Board on your behalf.
CPF Board may approve the use of some or all of your refunded CPF money
to the RA for the purchase of your new flat, where feasible (see note 1). We will
be able to advise you further on this during the SERS Connect at the HDB Hub.
Generally, if you have fully paid up the housing loan for your flat,
you will not have to use cash when buying the same type of new
flat on a similar floor level and in the same location.
Our SERS team, together with your SERS journey manager, will help you apply
for a replacement flat that meets your budget and needs.
Note
1 This may not apply if you have withdrawn your CPF savings under the Medical Grounds Scheme.
a Guide for our Seniors - 2018 Edition 5
4. What are the rehousing
options and benefits?
Here are the rehousing options you may consider. Please take your time to
consider the options below and talk through the possibilities with your family.
1 I would like
to live in
MacPherson
Buy a new 2-room Flexi
(see note 2), 3-, 4-, or
Note
2 2-room Flexi flat on short lease of between
15 and 45 years (in 5-year increments) are
available for flat owners who are at least 55
years old at the point of SERS announcement.
Speak to your SERS Journey Manager to
5-room flat if you are find out more.
eligible, at the offered
precinct.
2 I would like to live
in another place
Apply for a flat under
Build-To-Order (BTO), Sale
of Balance Flats (SBF) or Re-
Offer of Balance Flats (ROF)
3
exercise, with SERS rehousing
I have my own benefits. There is a 10% priority
allocation for applications
alternative
under BTO and
housing SBF exercise.
Receive ex-gratia payment on
top of your compensation instead
of SERS rehousing benefits
or
Sell or transfer your flat
with SERS rehousing
benefits.
6 Enjoy your Golden Years with SERS
If you meet the qualifying age and top up your CPF Retirement Account,
you may also be eligible for a Silver Housing Bonus of up to $20,000 per
household when you buy a smaller type of replacement flat (2-room Flexi
or 3-room flat).
Example of a 3-room (61, 63 or 64 m2) flat owner with
no outstanding housing loan buying a 2-room Flexi (45 m2) flat
Estimated market value
of current flat on the 6th $310,000
storey (see note 3)
Estimated subsidised price
of new flat on the 6th storey
$191,000
after $30,000 SERS grant
(if eligible)
What you will receive
$119,000
(cash and/or CPF)
Up to $20,000
Silver Housing Bonus if you top up your CPF
Retirement Account
Note
3 This does not include reasonable expenses made up of removal allowance, stamp and legal fees.
Please speak to your
SERS journey manager
to find out more about
schemes and bonuses
for seniors
a Guide for our Seniors - 2018 Edition 7
5. Can family members be included
in the application for a new flat?
Yes, they can. We will reassess the SERS rehousing benefits if your parent(s)
or child owns a private property, or has had SERS rehousing benefits or two
HDB housing subsidies before. Your SERS journey manager will be happy
to explain.
You may buy your
new flat with your
immediate family
members [parent(s)
or child, if eligible]
by including them as
co-applicant of the
new flat.
8 Enjoy your Golden Years with SERS6. What if the owner passes away
before collecting the keys to
the new flat?
Start
Is the person who passed away
the only owner of the flat?
No Yes
Is the flat held in Their estate will be
a joint tenancy? distributed according
You can find this information to their will (if any) or
according to the
in the lease agreement.
Intestate Succession Act.
No If their beneficiaries are
eligible and want to take
Yes over the SERS flat, only
those who are existing
occupiers can keep the
The HDB flat will be passed existing SERS rehousing
on to the co-owner(s). benefits. Otherwise, we
The application for the will reassess the SERS
new flat can be retained rehousing benefits.
if they meet our eligibility
conditions to own a flat,
which may change from
time to time. There will be
no change to the SERS
rehousing benefits.
aaGuide
Guidefor
forour
ourSeniors
Seniors--2018
2018Edition
Edition 9What’s next?
Before you meet us, you may want to prepare by doing
the following.
#1 Apply for a SingPass.
This will come in handy to access your CPF account,
other Government e-Services and future online applications.
Apply online at www.singpass.gov.sg if you do not have one.
Find out how much in CPF funds you have to buy
#2 your new flat.
Log on to www.cpf.gov.sg or visit a CPF branch with your
SingPass to check your CPF balance.
Check the outstanding loan you have on your flat
#3 (if any).
Log on to www.hdb.gov.sg/myhdbpage if you have taken
an HDB loan or speak to your bank representative if you
have taken a bank loan.
Consider whether you want to increase your
#4 retirement funds by buying a 2-room Flexi flat with
a choice of lease or 3-room flat and topping up
your CPF Retirement Account.
Discuss your rehousing options with your family members or
your SERS journey manager.
10 Enjoy your Golden Years with SERSNote: The information in this brochure is current at the time of printing. It may change due to amendments made by the relevant authorities or if we decide. All rights reserved. You cannot copy this brochure without our written permission. The information is also available in Chinese, Malay and Tamil. However, if there is any difference in the information in the other languages, the English version shall take priority. 注：本册子的资料以出版时为准。有关资料可以因相关机构或我们的决定而修改。册子里的 资料全属建屋局所拥有。在未经我们的书面同意之前，您不可以复制册子里的资料。 本册子的资料也以英语、马来语及淡米尔语出版。若有不明确之处，请参阅英语版为准 。
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