The HDB Lease Buyback Scheme is actually a federal government initiative which allows elderly HDB flat homeowners in Singapore to provide a portion of their flat's lease back again to HDB to supplement their retirement revenue. Being suitable, all proprietors have to be at least 65 a long time outdated, as well as flat should have at the least twenty years of remaining lease. The gross every month household earnings for all homeowners have to not exceed $fourteen,000. Underneath the plan, HDB purchases again a percentage of the flat's lease, as well as operator is then given a new lease of 30 many years, or around 95 a long time, dependant upon their age. The proceeds through the sale are accustomed to prime up their CPF Retirement Account, which consequently supplies a regular monthly cash flow stream by CPF Lifetime. The flat need to be proprietor-occupied to the length of the new lease. The plan presents a lump sum dollars reward of around $20,000 for read more those who qualify, and it is a substitute for downgrading to your scaled-down flat to monetize their current property.