The HDB Lease Buyback Plan is really a government initiative that enables aged HDB flat proprietors in Singapore to offer a portion of their flat's lease back to HDB to nutritional supplement their retirement earnings. To get suitable, all owners have to be at least 65 a long time outdated, as well as flat should have at the least twenty years of remaining lease.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 household revenue for all homeowners ought to not exceed $fourteen,000. Underneath the plan, HDB purchases again a percentage of the flat's lease, as well as operator is then given a new lease of 30 many years, or around 95 a long time, according to their age. The proceeds through the sale are accustomed to prime up their CPF Retirement Account, which consequently supplies a regular monthly cash flow stream by way of CPF Lifetime. The flat need to be proprietor-occupied to the length of the new lease. The plan presents a lump sum dollars reward of approximately $20,000 for those who qualify, and it get more info is a substitute for downgrading to the scaled-down flat to monetize their current home.