The HDB Lease Buyback Scheme is usually a governing administration initiative that permits aged HDB flat owners in Singapore to offer a percentage of their flat's lease back to HDB to supplement their retirement revenue. To generally be eligible, all homeowners need to be at the very least sixty five decades old, as well as the flat needs to have at least 20 years of remaining lease. The gross regular monthly domestic income for all proprietors need to not exceed $fourteen,000. Beneath the plan, HDB purchases back again a percentage of the flat's lease, as buy back scheme hdb 210 24 well as operator is then given a refreshing lease of 30 a long time, or approximately ninety five yrs, based upon their age. The proceeds from the sale are used to top up their CPF Retirement Account, which in turn provides a month-to-month earnings stream by means of CPF Existence. The flat have to be proprietor-occupied for your duration of the new lease. The plan presents a lump sum dollars reward of approximately $20,000 for individuals who qualify, and it's an alternative to downgrading to a smaller flat to monetize their present residence.