The HDB Lease Buyback Plan is actually a federal government initiative which allows elderly HDB flat house owners in Singapore to sell a part of their flat's lease back again to HDB to supplement their retirement cash flow. To generally be eligible, all homeowners needs to be a minimum of 65 yrs aged, and also the flat have to have not less than twenty years of remaining lease. The gross month-to-month family profits for all entrepreneurs must not exceed $14,000. Under the scheme, HDB buys back a portion of the flat's lease, as well as the proprietor is then presented a contemporary lease of thirty yrs, or nearly ninety five decades, depending on their age. The proceeds from the sale are here used to top up their CPF Retirement Account, which in turn provides a month-to-month earnings stream via CPF Lifestyle. The flat has to be owner-occupied for the period of The brand new lease. The plan supplies a lump sum income bonus of as much as $twenty,000 for people who qualify, and it can be an alternative choice to downgrading into a more compact flat to monetize their existing property.