The HDB Lease Buyback Plan is a government initiative that permits aged HDB flat owners in Singapore to market a percentage of their flat's lease back to HDB to health supplement their retirement money. For being qualified, all entrepreneurs should be at the least sixty five years old, along with the flat needs to have at least 20 years of remaining lease. The gross month to month house money for all owners should not exceed $14,000. Under the scheme, HDB buys back a portion of the flat's lease, and also the owner is then provided a clean lease of thirty several years, or as many as ninety five yrs, determined by their age. The proceeds within the sale are utilized to major up their CPF Retirement Account, which subsequently presents a every month money 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 hard cash reward of approximately $20,000 for individuals who qualify, and check here it's an alternative to downgrading to the smaller sized flat to monetize their current residence.