The HDB Lease Buyback Scheme can be a authorities initiative which allows elderly HDB flat homeowners in Singapore to provide a portion of their flat's lease back again to HDB to nutritional supplement their retirement revenue. Being suitable, all proprietors need to be at least 65 a long time outdated, as well as flat should have at the least twenty years of remaining lease. The gross every month home revenue for all homeowners ought to not exceed $fourteen,000. Underneath the plan, HDB purchases again a percentage of the flat's lease, and the owner is then offered a refreshing lease of 30 a long time, or approximately 95 several years, dependant upon their age. The proceeds with check here the sale are utilized to top rated up their CPF Retirement Account, which subsequently delivers a regular profits stream as a result of CPF Everyday living. The flat needs to be operator-occupied for that length of the new lease. The scheme provides a lump sum cash reward of as many as $20,000 for individuals who qualify, and it's an alternative to downgrading to a lesser flat to monetize their present house.