The HDB Lease Buyback Plan is really a government initiative that enables aged HDB flat proprietors in Singapore to provide a portion of their flat's lease back again to HDB to supplement their retirement revenue. Being eligible, all proprietors need to be at least 65 several years aged, and the flat will need to have no less than twenty years of remaining lease. The gross monthly home cash flow for all house owners will have to not exceed $fourteen,000. Under the plan, HDB purchases again a percentage of the flat's lease, and the owner is then offered a refreshing lease of 30 a long time, or approximately 95 a long time, dependant upon their age. The proceeds with the sale are utilized to top rated up their CPF Retirement Account, which subsequently delivers a regular profits stream by CPF Lifetime. The flat need to be proprietor-occupied to the length of the new lease. The plan presents a lump sum hard cash reward of approximately $20,000 website for those who qualify, and it is a substitute for downgrading to the scaled-down flat to monetize their current home.