The HDB Lease Buyback Scheme can be a federal government initiative which allows elderly HDB flat house owners in Singapore to sell a part of their flat's lease again to HDB to supplement their retirement cash flow. To generally be eligible, all homeowners needs to 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 residence money for all owners need to not exceed $14,000. Beneath the plan, HDB purchases back again a part of the flat's lease, plus the operator is then given a new lease of 30 many years, or around 95 a long time, dependant upon their age. The proceeds with the sale are utilized to top rated up their CPF Retirement Account, here which subsequently delivers a every month money stream as a result of CPF LIFE. The flat must be operator-occupied with the period of The brand new lease. The scheme gives a lump sum income bonus of up to $twenty,000 for many who qualify, and it can be an alternative choice to downgrading into a smaller sized flat to monetize their existing assets.