The HDB Lease Buyback Plan is a governing administration initiative that enables aged HDB flat owners in Singapore to offer a percentage of their flat's lease back to HDB to health supplement their retirement earnings. To get suitable, all owners have to be not less than 65 a long time outdated, as well as flat should have at the least twenty years of remaining lease. The gross every month household revenue for all homeowners ought to not exceed $fourteen,000. Underneath the plan, HDB purchases again a portion of the flat's lease, and also the owner is then provided a clean lease website of thirty several years, or as many as ninety five decades, depending on 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 via CPF Existence. The flat has to be owner-occupied for your duration of The brand new lease. The plan delivers a lump sum funds bonus of around $20,000 for those who qualify, and it is actually a substitute for downgrading to your scaled-down flat to monetize their current home.