Written Answer by Ministry of National Development on Lease Buyback Scheme (Sep 2022)

Sep 12, 2022

Mr Murali Pillai: To ask the Minister for National Development whether the age criterion for the Lease Buyback Scheme of 65 years old may be lowered for owners who are or have become disabled and have difficulty securing jobs and will benefit from the earlier monetisation of their flats.

Answer:

            The qualifying age for the Lease Buyback Scheme (LBS) is set at the CPF Payout Eligibility Age of 65 to allow seniors to receive their monthly CPF payouts immediately after they take up the LBS.

2          Nevertheless, HDB is prepared to and has exercised flexibility on the age requirement for those with long-term medical expenses and financial difficulties. This includes those who are or have become disabled, and experience challenges securing employment.