The HDB Lease Buyback Scheme is usually a government initiative that enables aged HDB flat homeowners in Singapore to sell a part of their flat's lease again to HDB to complement their retirement money. For being suitable, all owners have to be at least 65 yrs aged, as well as the flat need to have a minimum of 20 years of remaining lease. The gross regular household revenue for all house owners will have to not exceed $fourteen,000. Under the scheme, HDB buys back again a part of the flat's lease, plus the operator is then given a refreshing lease of 30 several years, or as many as ninety five decades, depending on their age. The proceeds in the sale are used to best up their CPF Retirement Account, which consequently supplies a regular profits stream as a result of CPF LIFE. The flat should be owner-occupied for the duration of The brand new lease. The plan delivers a lump sum dollars reward more info of approximately $20,000 for individuals who qualify, and it really is an alternative to downgrading to some smaller sized flat to monetize their existing assets.