Oral Answer by Ministry of National Development on minimum age eligible for Lease Buyback Scheme

Jan 10, 2018

Dr Tan Wu Meng: To ask the Minister for National Development whether HDB will consider reducing the minimum age for the Lease Buyback Scheme where the flat owner has a serious medical condition causing significant reduction of life expectancy.

Answer:

To be eligible for the Lease Buyback Scheme (LBS), all flat owners should be aged 65 or older. Age 65 corresponds to the CPF Payout Eligibility Age, which is the minimum age when they can start to receive their monthly payouts from CPF.

Nevertheless, should there be exceptional circumstances such as medical or financial reasons, HDB will exercise flexibility for such households which may not meet the age requirement fully to take up LBS on a case-by-case basis.