The HDB Lease Buyback Scheme is usually a govt initiative that allows elderly HDB flat entrepreneurs in Singapore to promote a part of their flat's lease again to HDB to dietary supplement their retirement profits. To become qualified, all entrepreneurs must be at the least sixty five decades old, along with the flat need to have at least 20 years of remaining lease. The gross month to month house profits for all entrepreneurs should not exceed $14,000. Under the scheme, HDB buys back a portion of the flat's lease, as well as the proprietor is then presented a contemporary lease check here of thirty yrs, or nearly 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 individuals who qualify, and it's an alternative to downgrading to a lesser flat to monetize their current house.