The HDB Lease Buyback Plan is really a federal government initiative which allows aged HDB flat proprietors in Singapore to offer a percentage of their flat's lease back to HDB to nutritional supplement their retirement profits. Being eligible, all homeowners must be no less than sixty five yrs aged, and the flat will need to have no less than twenty years of remaining lease. The gross every month household earnings for all homeowners have to not exceed $fourteen,000. Underneath the plan, HDB purchases back again a portion of the flat's lease, website as well as the owner is then offered a new lease of 30 decades, or nearly ninety five years, depending on their age. The proceeds from the sale are utilized to top rated up their CPF Retirement Account, which in turn provides a every month profits stream by way of CPF Existence. The flat should be operator-occupied to the duration of the new lease. The plan gives a lump sum funds reward of approximately $twenty,000 for many who qualify, and it is an alternative choice to downgrading to a more compact flat to monetize their present home.