The HDB Lease Buyback Plan is really a authorities initiative which allows elderly HDB flat homeowners in Singapore to sell a part of their flat's lease again to HDB to complement their retirement profits. To be eligible, all house owners must be at the very least sixty five decades old, as well as the flat need to have at least 20 years of remaining lease. The gross month to month house profits for all owners should not exceed $14,000. Under the scheme, HDB buys back a portion of the flat's lease, as well as the proprietor is then presented a contemporary lease of thirty yrs, or nearly ninety five decades, depending on their age. The proceeds from the sale are used to top up their CPF Retirement Account, which in turn provides a monthly income stream through CPF LIFE. The flat should be owner-occupied with the period of The brand new lease. The scheme offers a lump sum money reward of nearly $twenty,000 for individuals who qualify, and it really is an alternative to downgrading here to your more compact flat to monetize their existing property.