The HDB Lease Buyback Scheme can be a authorities initiative which allows elderly HDB flat homeowners in Singapore to provide a portion of their flat's lease back again to HDB to nutritional supplement their retirement revenue. Being suitable, all proprietors have to be not less than 65 a long time outdated, as well as flat should have at the least twenty years of remaining lease.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 ought 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 with the sale are accustomed to top rated up their CPF Retirement Account, which consequently delivers a regular profits stream by CPF Lifetime. The flat need to be operator-occupied for that length of the new lease. The scheme presents a lump sum hard cash reward of approximately $20,000 for individuals who get more info qualify, and it's an alternative to downgrading to the lesser flat to monetize their current home.