The HDB Lease Buyback Plan is 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 health supplement their retirement income. To get suitable, all owners has to be no less than sixty five many years previous, plus the flat must have a minimum of 20 years of remaining lease. The gross regular monthly domestic income for all proprietors need to not exceed $14,000. Beneath the plan, HDB buys back again a part of the flat's lease, along with the proprietor 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 owner-occupied for your duration of The brand new lease. The plan supplies a lump sum income bonus of up to $twenty,000 for click here many who qualify, and it truly is an alternative choice to downgrading to some smaller sized flat to monetize their present residence.