The HDB Lease Buyback Plan is a governing administration initiative that permits aged HDB flat entrepreneurs 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 a minimum of 20 years of remaining lease. The gross regular monthly residence money for all owners need to not exceed $14,000. Beneath the scheme, HDB buys back again here a part of the flat's lease, along with the operator is then supplied a fresh new lease of thirty years, or up to 95 years, based on their age. The proceeds from your sale are used to best up their CPF Retirement Account, which in turn offers a month to month revenue stream by means of CPF Existence. The flat has to be proprietor-occupied for your duration of The brand new lease. The plan supplies a lump sum funds bonus of as much as $20,000 for people who qualify, and it can be a substitute for downgrading into a more compact flat to monetize their existing assets.