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Lease Buyback Scheme (LBS)

You are eligible for the LBS as an additional monetisation option if you are from an elderly household living in a 4-room or smaller flat. Through this scheme, you will be able to tap on your flat to receive a stream of income in your retirement years, while continuing to live in it.

You can sell part of your flat’s lease to HDB and choose to retain the length of lease based on the age of the youngest owner. The proceeds from selling part of your flat’s lease will be used to top up your CPF Retirement Account (RA). You can then use your full CPF RA savings to purchase a CPF LIFE plan, which will provide you with a monthly income for life.

Eligibility Conditions

In order for your household to qualify for the LBS, the following conditions must be met:

Criteria

Eligibility

Age

All owners must have reached the eligibility age (currently set at age 64) or older

Citizenship

At least one owner must be a Singapore Citizen

Income

Gross monthly household income of $12,000 or less

Flat type

4-room or smaller

Property Ownership

No concurrent ownership of second property

Minimum Occupation Period

All owners have been living in the flat for at least 5 years

Minimum Lease

At least 20 years of lease to sell to HDB

Restrictions

Find out more about the restrictions that apply to the LBS in situations where you terminate your lease prematurely or if you outlive the lease period.

During the lease period

As the LBS is for those who wish to age-in-place, the lease period is non-transferable in the open market. You may not sell the flat in the open market or sublet the whole flat.

Premature termination of lease

If you wish to terminate the lease prematurely, you can:
  • Return the flat to us
  • Receive a refund for the remaining lease, pro-rated on a straight-line basis
Your CPF LIFE plan will not be terminated and will continue to provide a lifelong monthly income.

Outliving the lease period

If you outlive the lease of your flat, you will not be left homeless. We will look into the circumstances of your case and consider your family support, health condition, and financial status to determine the appropriate housing arrangement for you.

Passing away within the lease period

In this situation, your spouse or child who is living in the flat will be given the option to:
  • Live in the flat for the balance of the lease period; or
  • Return the flat to us
If your lease is terminated prematurely, we will reimburse the remaining value of the lease to your beneficiaries, based on a straight-line depreciation.
 
The unused portion of your premium*, if any, will be refunded to your CPF accounts when you pass away. The monies will then be distributed to your nominees. If you have not made a nomination, the monies will be distributed to your family members according to Singapore's intestacy law.
 
*The unused portion of the premium is the annuity premium (excluding annuity payouts that you have received thus far). For example, if the annuity premium is $50,000 and you have received $250 monthly for a total of 10 months, the unused portion of the premium is $47,500.
 

If you need more information, you can find out how the scheme works, or look under the FAQs.

How to apply

To apply for the LBS, visit My HDBPage and log in using your NRIC number and SingPass. Once you have logged in successfully, proceed to My Flat > Purchased Flat – Flat Details.

You might want to find out more about the application procedure and fees payable first.

If you need assistance, you can call our toll-free HDB Branch Service Line at 1800-225-5432 between 8:00am and 5:00pm from Mondays to Fridays.