The HDB Lease Buyback Plan is a government initiative that enables aged HDB flat proprietors in Singapore to provide a portion of their flat's lease back again to HDB to nutritional supplement their retirement revenue. To generally be eligible, all homeowners need 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 cash flow for all entrepreneurs must not exceed $14,000. Under the scheme, HDB buys back a portion of the flat's lease, and also the proprietor is then provided a clean lease of thirty yrs, or as many as ninety five yrs, based upon their age. The proceeds from the sale are utilized to top up their CPF Retirement Account, which subsequently presents a monthly income stream through CPF LIFE. The flat must be operator-occupied with the period of the new lease. The scheme offers a lump sum cash reward of as many as $twenty,000 for click here individuals who qualify, and it really is an alternative to downgrading to a lesser flat to monetize their present house.