In the past few years, we have undoubtedly seen profound changes in China's social security sector, the most prominent of which is the gradual flexibility and humanization of the housing provident fund policy. These policy changes are like a spring breeze, blowing in the hearts of every urban worker who has worked hard and hoped to settle down and start a career in another country.
But what exactly have these policies changed, and how will they affect our lives? Let's peel back the mystery of this "policy package" and unpack the deep meaning of it.
Use of housing provident fund in other places
Restrictions are gradually lifted
In the face of high housing prices, have the friends in the first-tier cities ever thought about buying a house and settling in their hometown or other favorite cities? So the question is, can the housing provident fund they pay in the city where they work be used to buy real estate in other places?
According to the current regulations in most places in the country, as long as you meet the local housing purchase policy, your credit and income are tested, the purchase documents are complete, and you have collateral or guarantors in the field, the bank will provide a loan.
For example, on July 27, the official website of Tianjin's Housing Provident Fund Management Center disclosed an announcement on changing the relevant regulations for personal housing provident fund loans.
According to the Announcement, it can be confirmed that those employees who pay housing provident fund in other regions and apply for provident fund loans in Tianjin will follow the local rules for paying employees' loans.
Although factors such as the amount of the housing provident fund loan in the city where the house is purchased need to be taken into account, this is undoubtedly an important progress.
This change has undoubtedly provided great convenience for those who work in big cities but want to make a home elsewhere.
The amount of housing loans from the Provident Fund has been gradually increased
In the past, many people were unable to access sufficient funds for home purchase due to loan limits. However, in the past two years, more and more places have begun to gradually increase the maximum amount of CPF housing loans, including directly increasing the total amount of CPF housing loans, as well as increasing the amount for specific groups of people (such as families with many children).
Tianjin has clearly put forward the policy of increasing the total amount of provident fund housing loans, and for employees, if they use the provident fund loan to purchase the first family house, the maximum loan amount can reach 1 million yuan, and if they buy the second family house, the maximum loan amount according to the new policy is 500,000 yuan.
Not only Tianjin, but also cities such as Ningbo and Hefei are also increasing the loan amount of the housing provident fund.
In June 2023, the Nanchang Housing Provident Fund Management Center announced that families with many children who meet the conditions for housing provident fund loans can apply for an additional 20% increase in the amount of provident fund loans when buying a house.
In addition to Nanchang, popular cities such as Guangzhou and Suzhou have also provided greater support for multi-child families in terms of provident fund housing purchase policies. In Guangzhou and Suzhou, multi-child families can get an additional loan of up to 30% when they buy their first ordinary owner-occupied home and apply for a housing provident fund loan.
Relax the conditions for withdrawing housing provident funds
In the past, the conditions for withdrawing the housing provident fund were very strict, and it could only be withdrawn after buying, building or renovating one's own home, or after retirement.
However, many cities are now gradually relaxing extraction conditions. For example:
Beijing
On January 1, 2023, the Beijing Housing Provident Fund Management Center issued the Notice on Further Optimizing the Housing Provident Fund Withdrawal Business.
According to this notice, if an employee rents affordable rental housing in Beijing, he or she can withdraw the housing provident fund based on the actual rent.
At the same time, the affordable rental housing project also adds a new provision of "monthly rent repayment" to realize that the monthly housing provident fund of employees can directly deduct the rent.
In addition, when employees apply for 7 types of housing provident fund withdrawals, a new cycle option of monthly withdrawal has also been added.
Shenzhen
The official website of the Shenzhen Municipal Housing and Construction Bureau issued the "Notice of the Shenzhen Housing Provident Fund Management Committee on Matters Concerning the Withdrawal of Housing Provident Fund Rental in Our City".
The notice pointed out that employees who do not have a house in Shenzhen can withdraw the housing provident fund on a monthly basis, and the withdrawal amount is 100% of the amount of the deposit that should be paid. Among them, eligible families with many children and employees renting public rental housing can choose to withdraw their housing provident fund based on the actual monthly rent.
Individuals can contribute to the housing provident fund
In the past, the contribution of the housing provident fund had to be made by the employer, and individuals who did not have a job could not make the provident fund payment.
However, at present, many places have actively reformed and piloted the participation of flexible employees in the payment of housing provident funds.
For example, since December 13, 2023, Kunming has opened the housing provident fund for flexibly employed people and granted a series of preferential policies.
This is of great benefit to some groups with flexible employment and no fixed income, which not only solves their survival pressure, but also broadens their access to home purchases.
To sum up, the housing provident fund policy in recent years has undergone significant changes compared with the past. These changes not only provide the general public with more possibilities to buy and live in housing, but also increase the public's grasp and understanding of policies in the field of social security.
However, this is only the beginning, and we look forward to further improving the housing provident fund policy in the future to better meet the diverse needs of the people and promote the fair and harmonious development of society.