The HDB Lease Buyback Scheme is actually 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 supplement their retirement cash flow. To generally be eligible, all homeowners needs to be a minimum of 65 yrs aged, and also the flat have to have no 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 owner is then provided a clean lease of thirty several years, or as many as ninety five yrs, based upon their age. The proceeds within the sale are utilized to major up their CPF Retirement Account, which subsequently presents a monthly income stream through CPF LIFE. buy back scheme hdb 210 24 The flat must be owner-occupied with the period of The brand new lease. The scheme offers a lump sum money bonus of nearly $twenty,000 for many who qualify, and it really is an alternative to downgrading to a smaller flat to monetize their present residence.