The HDB Lease Buyback Scheme can be a federal government initiative that allows elderly HDB flat house owners in Singapore to sell a part of their flat's lease back again to HDB to complement their retirement profits. To be eligible, all homeowners needs to be a minimum of 65 yrs aged, and also the flat have to have no less than twenty years of remaining lease. The gross monthly family cash flow for all house owners will have to not exceed $fourteen,000. Underneath the plan, HDB purchases again a portion of the flat's lease, and the owner is then offered a refreshing lease of 30 a long time, or approximately ninety five several years, determined by their age. The proceeds with the sale are utilized to major up their more info CPF Retirement Account, which subsequently delivers a every month money stream as a result of CPF Everyday living. The flat needs to be operator-occupied for that length of the new lease. The scheme provides a lump sum cash reward of as many as $20,000 for individuals who qualify, and it really is an alternative to downgrading to a lesser flat to monetize their present house.