The HDB Lease Buyback Scheme is actually 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 supplement their retirement revenue. Being eligible, all proprietors need to be at least 65 a long time outdated, and the flat should have at the least twenty years of remaining lease.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 read more is then given a new lease of 30 many years, or around 95 many years, according to 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 way of CPF Daily life. The flat need to be proprietor-occupied to the duration of the new lease. The plan delivers a lump sum dollars bonus of around $20,000 for those who qualify, and it is actually a substitute for downgrading to your more compact flat to monetize their existing property.