Additional Subsidies or Financial Support for Senior Households Living in HDB Flats on Fixed or No Incomes

13 Mr Fadli Fawzi asked the Prime Minister and Minister for Finance what additional subsidies or financial support such as property tax rebates, maintenance grants, utility rebates can be considered specifically for senior households living in HDB flats on fixed or no incomes, so as to prevent overburdening of long-time HDB owners who may struggle with costs but wish to remain in their flats.

The Senior Minister of State for Finance (Mr Jeffrey Siow) (for the Prime Minister and Minister for Finance): Mr Speaker, the Government actively supports seniors in Housing and Development Board (HDB) households who wish to age in place, with more support for those with lesser means.

Seniors can unlock the value of their flat and receive a regular stream of income through the Lease Buyback Scheme. The Government provides a cash bonus of up to $30,000 for eligible Lease Buyback Scheme participants, on top of the proceeds from selling a portion of their flat's remaining lease. To improve seniors' mobility and safety within their flat, in-home senior-friendly fittings and accessibility solutions, such as grab bars and ramps, are also subsidised via the Enhancement for Active Seniors programme.

The Government also provides direct support for living costs through the permanent Goods and Services Tax Voucher scheme, which comprising cash, MediSave, U-Save rebates and rebates for Service and Conservancy Charges. Seniors who earned low income during their working years and thus have low retirement savings may also receive quarterly Silver Support payments in cash. This was recently enhanced in 2025, with eligible seniors receiving up to $1,080 each quarter, up from $900 previously.

The Government has also from time to time provided additional support, such as Assurance Package payments, as well as property tax rebates. Beyond subsidies and financial support, we are also strengthening community support for seniors. For instance, the Silver Generation Office reaches out to all Singaporeans aged 60 and above to inform them about and connect them to care and support services. We are also piloting Age Well Neighbourhoods, which bring senior-friendly infrastructure and services into existing estates so that seniors have better access to such services in familiar surroundings.

Mr Speaker: Mr Fadli Fawzi.

Mr Fadli Fawzi (Aljunied): I thank the Senior Minister of State for his answer. Mr Speaker, the Senior Minister of State has mentioned that one housing monetisation option – the Lease Buyback Scheme – has been available since 2009, but yet, only about 12,700 households have taken it up, as of June 2024, which is a relatively low take-up rate.

Does the Ministry interpret this as seniors not needing assistance or as seniors rejecting monetisation as a form of assistance? And if it is the latter, would the Ministry consider finding ways to encourage the take-up rate, or maybe implementing further policies to reduce the cost of living for seniors, so they can continue staying in their own homes on top of encouraging them to extract value from their homes?

Mr Jeffrey Siow: Mr Speaker, we do recognise that, first of all, inflation in the past year has come down, but nonetheless, cost of living concerns remain high on the agenda for many Singaporeans, including the group of Singaporeans that the hon Member talks about, seniors who live in HDB flats. We will be looking very closely at the this group and seeing how much more we can support them.

But specific to the Lease Buyback Scheme, the subscription rate has, in fact, been going up. We will continue to do more to encourage seniors, who wish to take this opportunity to monetise their housing asset, to be able to do that, and to age in place at the same time.