If you are looking to supplement your retirement income, the LBS is an additional monetisation option you can consider for elderly households living in 4-room or smaller flats. This scheme helps you to unlock part of your housing equity as you continue to live in your flat and benefits you in your retirement years with a lifelong income stream.
Under this scheme, you can sell part of your flat lease to HDB and choose to retain the length of lease based on the age of the youngest owner. Your proceeds from selling part of the flat 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.
Here, you will find all the information you need on the eligibility criteria, how the scheme works, FAQs, and the application procedure.
HDB Branch Service Line
You can call the HDB Branch Service Line at 1800-225-5432 between 8am to 5pm from Mondays to Fridays.