The HDB Lease Buyback Scheme is really a authorities initiative that enables aged HDB flat entrepreneurs in Singapore to promote a portion of their flat's lease back to HDB to nutritional supplement their retirement earnings. For being qualified, all homeowners needs to be a minimum of 65 years old, and also the flat will need to have at the least 20 years of remaining lease. The gross month-to-month family money for all entrepreneurs ought to not exceed $14,000. Underneath the scheme, HDB purchases back again a portion of the flat's lease, and the operator is then presented a refreshing lease of thirty several years, or around ninety five a long time, based on their age. The proceeds from the sale are accustomed to top up get more info their CPF Retirement Account, which consequently provides a regular earnings stream as a result of CPF Daily life. The flat must be owner-occupied for that period of The brand new lease. The plan provides a lump sum income bonus of approximately $twenty,000 for people who qualify, and it's an alternative to downgrading into a scaled-down flat to monetize their current residence.