The HDB Lease Buyback Plan is a governing administration initiative that permits 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 previous, along with the flat needs to have a minimum of 20 years of remaining lease. The gross regular monthly residence money for all owners need to not exceed $14,000. Beneath the scheme, HDB buys back again a part of the flat's lease, along with the proprietor is then supplied a fresh new lease of thirty decades, 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 by means of CPF Existence. The flat has to be owner-occupied for the duration of The brand new lease. The plan gives a lump sum income bonus of up to $twenty,000 for many who qualify, and it click here can be an alternative choice to downgrading into a smaller sized flat to monetize their existing assets.