The HDB Lease Buyback Plan 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 earnings. Being suitable, all owners have to be not less than 65 many years outdated, as well as flat should have at the very least twenty years of remaining lease. The gross regular household earnings for all proprietors have to not exceed $fourteen,000. Beneath the plan, HDB purchases back again a part of the flat's lease, plus the operator is then specified a fresh lease of 30 years, or as here much as 95 many years, according to their age. The proceeds from your sale are accustomed to best up their CPF Retirement Account, which consequently gives a month to month revenue stream by means of CPF Daily life. The flat have to be proprietor-occupied for your duration of The brand new lease. The plan delivers a lump sum funds bonus of as much as $20,000 for people who qualify, and it is actually a substitute for downgrading into a more compact flat to monetize their existing property.