The HDB Lease Buyback Scheme is actually a authorities initiative which allows aged HDB flat homeowners in Singapore to provide a portion of their flat's lease back again to HDB to nutritional supplement their retirement earnings. To get suitable, all owners 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 monthly domestic income for all proprietors 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 provides a month-to-month earnings stream via CPF Lifestyle. The flat should be owner-occupied for the period click here of The brand new lease. The scheme gives 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 residence.