PM Lee repeats narrative on HDB flats being good homes and valuable nest eggs for retirement

Prime Minister Lee Hsien Loong said the ruling People’s Action Party(PAP) government had promised that all Housing Development Board (HDB) flats would be both good homes and valuable nest eggs for retirement. However, narrative has been contested by the recent controversy over the Selective En Bloc Redevelopment Scheme (SERS), where residents at Ang Mo Kio Avenue 3 are being forced out of their 43-year-old flats and having to fork out additional cash or CPF funds to purchase a replacement flat of equivalent size and convenience.