Tuesday, 18 June 2013
Dual-key units could help elderly monetise HDB flats, say dialogue participants
SINGAPORE — Bring back dual-key units as part of the flat mix offered by the Housing and Development Board (HDB), to help the elderly earn while they age in place – that was the call of some participants at the latest Our Singapore Conversation on Housing session yesterday night (June 12).
The topic of the dialogue, which was also attended by Senior Minister of State for National Development Tan Chuan-Jin, was how to help the elderly monetise their HDB flat if they wished to do so.
A recent survey done by the National Development Ministry found that only 10 per cent of elderly households sublet their flats. Reasons cited for not wanting to sublet include privacy issues, and the lack of an extra room.
Some participants suggested that dual-key units could help address these concerns.
Another question posed to participants at the dialogue was how to help elderly who want to move to live near their children.
Some participants suggested providing incentives, especially for the elderly who are willing to move to non-mature estates that their children are living in.
Wrapping up the session, Minister Tan stressed that not all seniors need to exercise the monetisation options. “Those who need, can then explore all these options to monetise, those who don’t need then don’t need to.” He added that the Government is committed to provide access to public housing to at least 85 per cent of Singaporeans.
Mr Tan also addressed some concerns raised about the Central Provident Fund (CPF) system.
He stressed that at the end of the day, what Singaporeans are looking for is the assurance that they will have enough to see them through retirement, and that CPF, healthcare and housing are all part of that system.
He said: “At the end of it, every policy must make sense for Singaporeans. But it’s not just the individual, but it’s also a society and sometimes there are tensions and you can realise that sometimes what benefits me, may not necessarily be good for everyone else. Where is that balance?”
“And the other one is what benefits us today and then how it is going to benefit our children and our grandchildren’s generation. There is also a tension. You spend now, you may have less later.” CHANNEL NEWSASIA
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