HDB open to flexibility with LBS age requirement
We thank Mr Cheng Choon Fei for his letter (Make lease buyback more senior-friendly; Aug 23).
The Lease Buyback Scheme (LBS) allows seniors to monetise their flat for their retirement needs while continuing to live in it. This is done by selling part of their remaining lease to HDB.
Under this scheme, seniors use part of their proceeds to top up their CPF Retirement Account and join CPF Life to receive a monthly income stream for life.
The CPF top-up requirement seeks to strike a balance between channelling the proceeds towards a