I was reading this headline this morning :

HDB Lease Buyback Scheme kicks off

Channel NewsAsia - Monday, March 2

Snippets of the article:

"SINGAPORE : Singapore’s Housing and Development Board Lease Buyback Scheme started on Sunday, after two years in the works."

"The scheme is designed to help cash—poor, asset—rich seniors meet their retirement needs."

"Seniors will get to stay in their homes for 30 years after they sign up. And if they are still alive after the 30—year lease, alternative arrangements such as nursing home stays will be made for them."

Mr Mah said: "The benefit of the scheme really is, you stay where you are and you get a rental income. My instruction to HDB is to make sure that as many eligible elderly households as possible are familiar with the scheme."

I seriously think that our government is trying its best to aid the elderly in such a situation.

Think about this scenario - we come of age, the bank account is still empty and the bills are still piling, the children which we think we could depend on are too busy to even remember us, life can seem very despondent for these elderly people. Which is exactly why the government's HDB Lease buyback scheme is perfect for these people.