The HDB Lease Buyback Plan is usually a government initiative that enables elderly HDB flat homeowners in Singapore to sell a part of their flat's lease again to HDB to health supplement their retirement earnings. To generally be eligible, all house owners should be no less than sixty five many years previous, as well as flat needs to have a minimum of 20 years of remaining lease. The gross regular household earnings for all homeowners have to not exceed $fourteen,000. Beneath the scheme, HDB buys back a portion of the flat's lease, and also the owner is then offered a refreshing lease of click here 30 years, or as much as ninety five yrs, based upon their age. The proceeds with the sale are accustomed to best up their CPF Retirement Account, which in turn presents a month-to-month revenue stream by way of CPF Daily life. The flat need to be operator-occupied for that duration of The brand new lease. The plan supplies a lump sum funds reward of approximately $twenty,000 for individuals who qualify, and it is an alternative to downgrading to the lesser flat to monetize their present residence.