Silver Housing Bonus (SHB) Calculator Singapore 2026
Net Proceeds, BSD on Replacement Flat & CPF LIFE Retirement Payout
Calculate exactly how much cash you unlock by selling your current HDB flat and buying a smaller replacement — including the Silver Housing Bonus of up to S$30,000 into your CPF RA, net proceeds after BSD and legal fees, and your estimated monthly CPF LIFE payout in retirement.
From Singpass → CPF → My Home. This is refunded to OA on sale (not cash) and can be used again for replacement flat purchase.
Use the CPF Accrued Interest Calculator to estimate this. Together with principal, this returns to OA on sale.
BSD is automatically calculated and included in the total purchase cost.
Place up to S$30,000 into CPF RA from your sale proceeds to receive the full S$30,000 government bonus. Amount in excess of S$30K earns no bonus but does boost CPF LIFE payout.
Enter your current flat sale price, replacement flat details, and how much to place in CPF RA to see the full Silver Housing Bonus calculation — including BSD on the new flat, SHB matching bonus, and estimated monthly CPF LIFE payout.
Understanding the Silver Housing Bonus (SHB) Singapore 2026 — Downsize Your HDB Flat for Retirement Income with Dollar-for-Dollar Matching
The Silver Housing Bonus (SHB) is a government scheme that encourages eligible seniors to right-size their HDB flat — selling a larger flat and buying a smaller replacement — and use the net proceeds to boost their CPF Retirement Account (RA) for a higher monthly CPF LIFE income. In return, the government provides a dollar-for-dollar bonus of up to S$30,000 credited into the CPF RA.
Unlike the Lease Buyback Scheme (LBS), which allows seniors to stay in the same flat, SHB requires a physical move to a smaller dwelling. The financial upside can be significant: a senior selling a 5-room flat for S$700,000 and buying a 3-room resale flat at S$300,000 pockets approximately S$350,000 in net cash (after costs), plus the S$30,000 government bonus into RA. Depending on the RA top-up decision, this can generate S$1,000–S$2,000+ in additional monthly CPF LIFE income for life.
SHB Eligibility Criteria — Age, Income, Flat Type & Downsize Requirement 2026
| Criterion | Requirement | Notes |
|---|---|---|
| Minimum Age | 55 years (youngest owner) | At least one owner must be 55+ |
| Income Ceiling | ≤ S$14,000/month (gross HHI) | Combined household gross income |
| Property Owned | Current flat only (no private property) | Cannot own other HDB or private property |
| Current Flat | Any HDB flat type | Must have completed 5-year MOP |
| Replacement Flat | 3-room or smaller (or Studio) | Must be smaller — downsizing required |
| SHB Bonus Limit | S$30,000 (dollar-for-dollar) | Credited to CPF RA, not cash |
| Times Allowed | Once only | Applies per individual owner |
How the Net Proceeds Are Calculated — Sale, Costs, BSD on Replacement & Cash in Hand
Many seniors focus only on the headline sale price without accounting for all outgoings. The true net cash picture after SHB involves:
- Sale side: Sale Price − Outstanding HDB Loan − Agent Fee (1%) − Legal Fees (est. S$2,500)
- CPF refund: CPF OA used (principal + accrued interest) returns to OA — this is your money back in CPF, not cash
- Buy side: Replacement Price + Buyer’s Stamp Duty (BSD) + Legal Fees (est. S$2,500)
- True cash in hand: Net cash from sale − total cost to buy replacement
- RA top-up & bonus: Place up to S$30,000 into RA → receive S$30,000 SHB bonus → boosts CPF LIFE monthly payout
How This Silver Housing Bonus Calculator Works — Full Transaction Model, BSD Calculation & CPF LIFE Payout
Step 1 — Enter Current Flat Sale and Outstanding Loan for Net Cash
The calculator deducts agent fee (1%), legal fees (estimated S$2,500), and any outstanding HDB loan to arrive at net cash proceeds. CPF OA principal and accrued interest returned on sale are tracked separately — they return to your OA and can be reused for the replacement flat purchase, reducing cash outlay.
Step 2 — Enter Replacement Flat Price to Auto-Calculate BSD
Buyer’s Stamp Duty (BSD) is automatically calculated on the replacement flat price using Singapore’s progressive BSD table: 1% on first S$180,000, 2% on next S$180,000, 3% on next S$640,000, and 4% above. For a S$300,000 flat: BSD = S$1,800 + S$2,400 = S$4,200. This is often forgotten by seniors planning the downsize and can reduce cash-in-hand by S$3,000–S$8,000.
Step 3 — Set RA Top-Up Amount to Maximise SHB Bonus
The SHB provides a dollar-for-dollar match on the amount placed into your CPF RA from the sale proceeds, capped at S$30,000. To receive the full S$30,000 bonus: place at least S$30,000 into RA. The total RA (top-up + bonus + existing RA) then determines your estimated monthly CPF LIFE payout using the Standard Plan.
3 Real Singapore SHB Examples — 5-Room to 3-Room Downgrade, 4-Room to 2-Room & EC to Studio
Example 1: 5-Room to 3-Room, Age 63
Example 2: 4-Room to 2-Room, Age 68
Example 3: Executive to Studio, Age 72
3 Expert Tips on Silver Housing Bonus — Timing, RA Optimisation & SHB vs LBS Comparison
Top Up Exactly S$30,000 to Get the Full Bonus — Then Decide What to Do with the Rest
The SHB gives a dollar-for-dollar match capped at S$30,000. There is no benefit to placing more than S$30,000 in terms of the bonus — but it still boosts your CPF LIFE payout at 4% p.a. compounding. The optimal strategy: (1) place exactly S$30,000 into RA to max the bonus; (2) then decide separately how much of the remaining proceeds to voluntarily top up into RA for more CPF LIFE income vs keep as liquid cash. For seniors above the BRS/FRS, excess RA top-ups may be capped — check your RA ceiling with CPF Board before planning the top-up.
Budget for BSD, Legal Fees and Relocation — These Are Not Trivial Costs
First-time downsizers often undercount transaction costs on the replacement flat. For a S$280,000 3-room resale flat: BSD ≈ S$4,000, legal fees S$2,500, valuation fee S$300 — total S$6,800 before you move in. Add S$3,000–S$8,000 for movers, minor renovations, and new furniture for the smaller flat. These costs should be budgeted before locking in the SHB top-up amount. Work backwards from the desired cash-in-hand to determine how much can realistically go into the RA for SHB purposes.
Compare SHB vs LBS Before Committing — Moving Is Not Always Worth It
SHB requires a physical move and the psychological cost of leaving a long-held family home. LBS lets you stay put but gives you less cash (you only sell part of the lease, not the full flat value). The SHB math usually generates significantly higher CPF LIFE payouts — a 5-room flat owner in Queenstown could unlock S$300,000+ more via SHB than via LBS. But the decision isn’t purely financial: social ties, proximity to children, familiar neighbourhoods, and the disruption of moving at 65+ all matter. Attend an HDB Financial Planning consultation (free) where a dedicated advisor models both options for your specific flat.