The HDB Lease Buyback Plan is really a government initiative that enables aged HDB flat proprietors in Singapore to provide a portion of their flat's lease back again to HDB to nutritional supplement their retirement revenue. Being eligible, all proprietors need to be a minimum of 65 yrs aged, and also the flat have to have not less than 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 again a part of the flat's lease, along with the proprietor is then supplied a fresh new lease of thirty years, or as much as 95 many years, according to their age. The proceeds through the sale are accustomed to prime up their CPF Retirement Account, which consequently supplies a regular profits stream by CPF Everyday living. The flat needs to be operator-occupied for that length of the new lease. The scheme offers a lump sum money reward of nearly $twenty,000 for many who qualify, and it truly is an alternative choice to downgrading more info to some smaller sized flat to monetize their existing assets.