There has been a lot of confusion over LHL's announcement over VERS / HIP 2. For reasons unknown, most Singaporeans think that they will get HIP 2 followed by VERS. This seems highly unlikely. Instead what the choice Singaporeans will most likely be given is VERS OR HIP2.
Those who choose VERS will be given a sum of money and the option to purchase a new HDB flat.
Those who chose HIP 2 will undergo a second round of upgrading. This will focus on fixing structural defects to ensure that that the aging HDB block does not fall down. Those who choose HIP 2 will can then live in their upgraded flat until the lease runs out, after which the flat would revert to HDB.
Those who choose VERS will be given a sum of money and the option to purchase a new HDB flat.
Those who chose HIP 2 will undergo a second round of upgrading. This will focus on fixing structural defects to ensure that that the aging HDB block does not fall down. Those who choose HIP 2 will can then live in their upgraded flat until the lease runs out, after which the flat would revert to HDB.