The HDB Lease Buyback Scheme is usually a governing administration initiative that permits 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 not less than 20 years of remaining lease. The gross month to month house profits for all entrepreneurs must not exceed $14,000. Under the scheme, HDB buys back a portion of the flat's lease, and also the proprietor is then presented a contemporary lease of thirty yrs, or nearly ninety five decades, depending on their age. The proceeds from the sale are used to top up their CPF Retirement Account, which subsequently provides check here 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 lesser flat to monetize their present house.