The HDB Lease Buyback Scheme is a government initiative that enables elderly HDB flat homeowners in Singapore to sell a part of their flat's lease again to HDB to dietary supplement their retirement income. To get suitable, all proprietors need to be a minimum of sixty five decades old, along with the flat must have at the very least twenty years of remaining lease. The gross every month family cash flow for all entrepreneurs should not exceed $14,000. Beneath the plan, HDB purchases again a percentage of the flat's lease, and the here owner is then provided a clean lease of thirty yrs, or up to 95 many years, according to their age. The proceeds through the sale are accustomed to top rated up their CPF Retirement Account, which subsequently delivers a every month income stream through CPF Lifestyle. The flat has to be owner-occupied for your duration of the new lease. The plan presents a lump sum hard cash reward of as many as $20,000 for individuals who qualify, and it really is an alternative choice to downgrading to some smaller sized flat to monetize their existing assets.