The HDB Lease Buyback Scheme is usually a governing administration initiative that enables aged HDB flat proprietors in Singapore to provide a portion of their flat's lease back again to HDB to complement their retirement profits. To be qualified, all house owners must be at the least sixty five years previous, plus the flat must have a minimum of 20 years of remaining lease. The gross regular domestic earnings for all homeowners have to not exceed $fourteen,000. Underneath the plan, HDB purchases again a percentage of the flat's lease, and also the owner is then provided a clean lease of thirty yrs, or nearly ninety five years, based on their age. The proceeds from your sale are used to best up their CPF Retirement Account, which consequently gives a month to month cash flow stream by way of CPF Daily life. The flat need to be proprietor-occupied to the length of the new lease. The scheme provides a click here lump sum hard cash reward of as many as $twenty,000 for individuals who qualify, and it really is an alternative to downgrading to some smaller flat to monetize their present residence.