The HDB Lease Buyback Plan is a govt initiative that allows aged HDB flat entrepreneurs in Singapore to promote a part of their flat's lease again to HDB to dietary supplement their retirement profits. To become qualified, all house owners must be at the very least sixty five decades old, as well as the flat need to have at least 20 years of remaining lease. The gross month to month house profits for all owners must not exceed $14,000. more info Under the scheme, HDB buys back a portion of the flat's lease, and also the owner is then presented a contemporary lease of thirty yrs, or nearly ninety five yrs, based upon their age. The proceeds from the sale are utilized to top up their CPF Retirement Account, which subsequently presents a monthly income stream through CPF LIFE. The flat must be operator-occupied with the period of The brand new lease. The scheme offers a lump sum money reward of nearly $twenty,000 for individuals who qualify, and it really is an alternative to downgrading to a smaller flat to monetize their present house.