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. To generally be eligible, all homeowners needs 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 entrepreneurs must 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 month-to-month earnings stream via CPF Lifestyle. The flat should be owner-occupied for the period of The brand new lease. The scheme gives a lump sum income bonus of up to $twenty,000 for many who qualify, and it truly is an alternative choice to downgrading to click here some smaller sized flat to monetize their present assets.