Extension of Lease Buyback Scheme to Owners of Larger HDB Flats

Debated in Parliament on 14 Jan 2013.

Summary written by AI (learn more)

Gerald Giam asked if the Lease Buyback Scheme could be extended to owners of 4-room or larger HDB flats.
Khaw Boon Wan explained the scheme is currently targeted at lower-income elderly in smaller flats to boost retirement income.
The government has no plan to extend it to larger flats as owners have other monetisation options.
Elderly households in larger flats can rent out spare rooms or right-size to smaller units via the Silver Housing Bonus Scheme.
The existing scheme focuses on small flats because elderly households tend to be small and need additional income support.

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Full Transcript

Gerald Giam Yean Song

Mr Gerald Giam Yean Song asked the Minister for National Development if the Government will consider extending the Lease Buyback Scheme to owners of 4-room or larger HDB flats.

Khaw Boon Wan

The Lease Buyback Scheme (LBS) is intended to help lower-income elderly living in 3-room or smaller HDB flats enhance their retirement income. We have no plan to extend the LBS to owners of 4-room or larger HDB flats as they have other monetisation options. Elderly households tend to be small, and those in the larger flat types may have spare rooms to rent out, after their children have moved out. Alternatively, they can choose to right-size to a smaller flat or Studio Apartment under the Silver Housing Bonus Scheme.

Summary written by AI (learn more)

Gerald Giam asked if the Lease Buyback Scheme could be extended to owners of 4-room or larger HDB flats.
Khaw Boon Wan explained the scheme is currently targeted at lower-income elderly in smaller flats to boost retirement income.
The government has no plan to extend it to larger flats as owners have other monetisation options.
Elderly households in larger flats can rent out spare rooms or right-size to smaller units via the Silver Housing Bonus Scheme.
The existing scheme focuses on small flats because elderly households tend to be small and need additional income support.

Questions identified by AI (learn more)

Extension of Lease Buyback Scheme to Owners of Larger HDB Flats

Debated in Parliament on 14 Jan 2013.

Summary written by AI (learn more)

Gerald Giam asked if the Lease Buyback Scheme could be extended to owners of 4-room or larger HDB flats.
Khaw Boon Wan explained the scheme is currently targeted at lower-income elderly in smaller flats to boost retirement income.
The government has no plan to extend it to larger flats as owners have other monetisation options.
Elderly households in larger flats can rent out spare rooms or right-size to smaller units via the Silver Housing Bonus Scheme.
The existing scheme focuses on small flats because elderly households tend to be small and need additional income support.

Questions identified by AI (learn more)

Full Transcript

Gerald Giam Yean Song

Mr Gerald Giam Yean Song asked the Minister for National Development if the Government will consider extending the Lease Buyback Scheme to owners of 4-room or larger HDB flats.

Khaw Boon Wan

Summary written by AI (learn more)

Gerald Giam asked if the Lease Buyback Scheme could be extended to owners of 4-room or larger HDB flats.
Khaw Boon Wan explained the scheme is currently targeted at lower-income elderly in smaller flats to boost retirement income.
The government has no plan to extend it to larger flats as owners have other monetisation options.
Elderly households in larger flats can rent out spare rooms or right-size to smaller units via the Silver Housing Bonus Scheme.
The existing scheme focuses on small flats because elderly households tend to be small and need additional income support.

Questions identified by AI (learn more)

Extension of Lease Buyback Scheme to Owners of Larger HDB Flats | PAPERCUTS

Extension of Lease Buyback Scheme to Owners of Larger HDB Flats

Summary

Questions Identified

Full Transcript

Gerald Giam Yean Song

Khaw Boon Wan

Summary

Questions Identified

Extension of Lease Buyback Scheme to Owners of Larger HDB Flats

Summary

Questions Identified

Full Transcript

Gerald Giam Yean Song

Khaw Boon Wan

Summary

Questions Identified