With effect from 10 May 2019, buyers will be able to utilize more of their CPF for home purchases as long as the remaining lease of the home can cover the youngest buyer until at least the age of 95.
There are 2 types of CPF Housing Grants available for first-timer applicants of HDB Flats:
National Development Minister Lawrence Wong has cautioned home buyers not to assume that all old Housing Board flats will be automatically eligible for the Selective En bloc Redevelopment Scheme (Sers).
A CPF Nomination allows CPF members to determine who will receive their CPF savings & how much each nominee should receive. One does not need to make a CPF Nomination if the intention is to distribute the CPF savings under the Intestate Succession Act or the Inheritance Certificate (for Muslims).
Jason Ow S. H.
Senior Financial Consultant