In his National Day Rally speech, PM Lee said that the government would try to 'narrow the income gap' through a host of new measures to make it more affordable for Singaporeans to own a flat, especially for the lower-income group.
The Government will increase the CPF Housing Grant to $30k, from the current $20k for the lower income group, and the household income ceiling will be raised from $3,000 to $4,000 to cover about half the households in Singapore.
The Ministry of National Development (MND) will also make 2 and 3-room HDB flats easier to monetise. To help the aged residents, HDB will buy back the remaining lease of their lease and leave flat owners with 30 years on the same flat. The payment will be in a lump sum upfront and monthly annuity payment. To qualify, the flat owners must be 62 years old or older.
* PM's Speech , SISV-News 22Aug , HDB-CPF Grant *
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Ageing is a vy real problem and pretty sad too when u see an estate without children's laughter & kids running about (now, pple r complaining kids running wild in shopping centres). Instead, u'll see elderly fainting on the streets & the ambulances zooming in and out. Pls keep fit!
Businessman can start to look into the ageing mkt.
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