The HDB Lease Buyback Plan is really a government initiative that permits aged HDB flat owners in Singapore to market a percentage of their flat's lease back to HDB to health supplement their retirement income. To get suitable, all entrepreneurs has to be no less than sixty five many years previous, plus the flat must have a minimum of 20 years of remaining lease. The gross regular domestic income for all proprietors need to not exceed $14,000. Beneath the plan, HDB buys back again a part of the flat's lease, plus the operator is then specified a fresh new lease of thirty years, click here or up to 95 years, based on their age. The proceeds in the sale are used to leading up their CPF Retirement Account, which in turn offers a month-to-month earnings stream via CPF Lifestyle. The flat should be owner-occupied for the period of The brand new lease. The scheme offers a lump sum money bonus of nearly $twenty,000 for many who qualify, and it really is an alternative to downgrading to a smaller flat to monetize their present house.