The HDB Lease Buyback Plan is a governing administration initiative that enables aged HDB flat owners in Singapore to market a percentage of their flat's lease back to HDB to dietary supplement their retirement money. For being qualified, all entrepreneurs should be at the least sixty five years old, along with the flat needs to have at least 20 years of remaining lease. The gross month to month residence money for all owners should not exceed check here $14,000. Under the scheme, HDB buys back a portion of the flat's lease, as well as the proprietor is then presented a contemporary lease of thirty decades, or nearly ninety five decades, depending on their age. The proceeds from the sale are used to top up their CPF Retirement Account, which in turn provides a monthly income stream through CPF LIFE. 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 qualify, and it's an alternative to downgrading to the lesser flat to monetize their current home.