Elderly S'poreans mull over Silver Housing Bonus

This is a really RAW deal. I hope none of the elderly takes it up.
Ripping them off for 20k for a flat is outright injustice!
No need to appear magnanimous about unlocking cash, uncertain economy, and high living costs.
Just unlock their entire CPF!

There are many who would rather rent out the extra room.
Average room rental is $600/mth, $7,200 /yr, $14,400/2yrs, $21,600/3yrs ...........
These will be their retirement income.
What will be the after effect 10 or 20yrs later for these who took up the offer?

MM Lee: HDB flat owners should not sell their flats

http://www.pmo.gov.sg/content/pmosite/mediacentre/inthenews/ministermentor/2010/November/don_t_sell_your_hdbflatsaysmmlee.html

The govt has failed to address the problems of many of the elderly who are staying in rented flats. Some of whom are sick, some terminal, single, living on the little payout from CPF. I know of one 59 year old terminally ill man, who is living on $450 and whose request for an increase of $100 for medication and daily expenses, was rejected. The reason from CPF for not approving the increase was "to keep for old age". He is a dying man and is not working, but is not granted the extra hundred. There are too many idealistic wayangs put up by the govt. They failed because they are put up by elites who do not know the grounds.

If they did suppress wages by bringing in the FT, and took care of the citizens, the elderly problems may not necessary be so bad. And this will not be the end of it, because the bulk of the citizen population now will face the same challenges multiple times more in the future.

Elderly people don't like drastic changes. There is also the problem of adaptability when they move...
Further, what can $15,000 do for you in this day? Buy peanuts everyday?

Who wants to downgrade and waste another part of money to our government. It's better to keep the existing flat and rent out rooms and get some income rather than sold the flat and the money becomes stagnant. Our government is very good in investing but never encourage our elders to do investment, just want to sponge on our elderly hard earn money.

15K cash in hand, 5K to CPF... How long can we survive with that 15K? Once illness struck, 15K also not enough to cover up. Downgrade smaller flat no need to renovate the house? Ya, just nice that 15K for the covering up this that. Don't be fool by the scheme. Government SHOULD RETURN our CPF $$$. CPF is our hard earning $$$, we all have the right to take back.

Why always in giving money, must a percentage go to CPF. Why cant be so sincere. give money , give lah, dont go into cpf straight away. rather give fully 20k and then tell them if you put 5k , we will better interest. any way. please ensure that when they downgrade, they dont get trick by housing agent , loansharks and such.

Actually this studio apartment should be given to those without any family nuclear members. All this people really in need of a flat but our government do not want to look into this matter, but rather want to sponge more money from our elderly hard earn money. But of course it should be 90 years lease as usual.

20k is a small sum cos we r old n many sickness. V fast can finish the 20k. If i downgrade frm a 3rm to SA at 55 yrs old. The lease of SA is only 30 yrs. by then i will become homeless at 85 yrs old n my money all used up. I will probably hv nightmare every nite when i'm gng to reach 85 yrs old. If i still survive, is the garment gng to give me a place to stay?

Downgrade means whatever CPF monies used to pay for the house will be returned to CPF. The only winner I see here is the PAP government. More money for Temasek Holding to lose.

I don't understand why government always wants to gain from citizen by giving some and taking more..

IF 60yrs old citizen is diagnosed with liver cancer and could only live for 2 more years. Can they take out their CPF $$$ and go for a once in a life time tour B4 they call it a day? Are they entitle to spend their hard earn $$$ the way they preferred? Many things could happened between 55 and 65, please think carefully before locking away so much $$$.

no roof over their head. 100k in CPF must keep for old age. cannot buy studio apartment on 30 yr lease with own money. what kind of a human made this law???

Everyday i go to work i feel freedom!!2016!!i live in aljunid!!
THEY THINK WE OLD PEOPLE ARE STUPID OR WHAT!!!!
45m flat 30yrs-$100k,90m flat 90yrs -300k!2x size 3x yrs better!!
1million MORE FTs can live in coconut trees in CHANGI!!!!

The govt muz explain how to get the money ? U sell ur house on ur own or give it to govt to sell n they make money from the sale , then they give u the $20k ? Its like the buy back scheme - the owner dont get the full value . And if u let the govt sell the flat n they give u a rental flat - the owner also dont get the full value . Pls clarify in detail .

average 3rm resale can sell for $300K, but to apply for studio need at least 55yr old and wait 5yrs, by then can 3rm still selling for $300K ? if lucky maybe more, otherwise may sell for less, how to convince elder to consider such schemed policy ?
rent out a room, $500/mth, 30yrs $180K and flat still yours, buy studio $100k only for 30yrs, how to attract ppl to downgrade ?, if rent out whole 3rm can easily fetch $1.5 to 2K, 30yrs $540K to $720K,
shd encourage elder to rent out entire unit and stay with children instead

It clearly shows that there is a disconnect between the elderly thinking and formulation of policies. If only they can think like the elderly or live in HDB flats and understand their surrounding of the elderly , policies will then be more in tune with the needs of the elderly.
Instead of getting the elderly to downgrade , provide help to them by renting out their rooms on their behalf or even help them to start a small child care looking after 2-3 children in the day time . This will provide them with a source of income and make their sunset years more meaningful.

Is really shows how DISCONNECTED the PAP with the ground & understanding Human Beings; the old wants FAMILIARITY!!!!!!!

This is what they do to help the poor old folks who has help to built the country. This is how the PAP Government does is to throw them out of comfortable living conditions which the old folks are so used to live with their old neighbors and friends. Is this what we call welfare. The government is now dumping them instead of helping this poor old folks. Why did the PAP Ministers and MPs to ask their parents to do the same and see what their parents will do to them. They have forgotten how their parents have struggle to bring them up. Very in human and ungrateful government! They have animals brains!