What Can Housing Provident Fund Do? &Nbsp; It Is Far From Enough To Buy A House; &Nbsp Is Illegal.

Trial run in Shenzhen

Last year, a similar plan was made in Guangzhou, which was eventually rejected, because it was contrary to the provident fund management Ordinance of the State Council.

Alike

In the face of high housing prices, how much does housing provident fund play in buying houses?

Cure a serious disease

The public welcomes but conflicts with policy.

Shenzhen housing provident fund extraction business began trial operation in September 1st this year, enjoy the minimum living security or workers and family members suffering from malignant tumors and other 9 major diseases, you can withdraw the balance of my housing provident fund account.

The move is generally welcomed by the public, and it is considered reasonable and humane.

Some people say that the money in the housing provident fund account belongs to themselves, and it is reasonable to withdraw the provident fund to cure the disease and save lives. Some people believe that the housing prices are high now, and the function of housing provident fund to solve the housing problems of the common people is becoming weaker and weaker. We should further strengthen this function and let the provident fund become a barrier to solve the housing problem of the majority people, so that everyone can enjoy housing security.

The practice of Shenzhen is not original. The housing provident fund management center of Guangzhou also made similar plans last year.

According to the plan design, workers and family members can get the provident fund if they suffer from major diseases.

However, the housing provident fund management committee of Guangzhou has not passed the plan and is still shelved.

Liao Lieyou, director of the office of Guangzhou provident fund management committee, said that they had conducted extensive investigations, and many workers reflected that their provident fund was far from enough to buy a house.

To this end, Guangzhou housing provident fund management center has made a "major disease provident fund withdrawals" program, but in the discussion, always can not bypass the State Council's "Provident Fund Management Ordinance" fifth: "housing provident fund should be used for workers to buy, build, rebuild, overhaul self occupied housing, no unit or individual can be diverted for his use."

Guangzhou can only postpone the discussion of the proposal and wait for the relevant ministries and commissions of the state to interpret or modify the regulations.

{page_break}

Insiders said that the state set up a housing provident fund system, the purpose is to help workers solve housing problems.

How to make full use of this system and help the workers to solve the housing problem better, is always the core of the accumulation fund.

The problem is that housing prices are rising everywhere, and the role of provident fund in solving housing problems is becoming weaker and weaker.

To this end, there are workers said that housing provident fund can not afford housing, but also can not save lives, that is not a decoration.

Want to buy a house

A drop in the bucket can only look at the building.

This year, Wang Fei, a 30 year old college graduate, took part in the work for 8 years. He thought he belonged to the "sandwich class" which could not afford to buy a house, nor could he enjoy the government housing guarantee. Now he and his girlfriend have reached the age of marriage.

He inquired about the balance in his provident fund account, which was only 60 thousand yuan.

A few years later, my girlfriend had less accumulation fund.

Now, Guangzhou has a high housing price and a million smaller apartments.

With 20 years 70% mortgage, the down payment, decoration and other expenses are not less than 400 thousand.

According to the equal principal amount, the monthly payment amounted to 5420 yuan.

Two people, that poor provident fund can not play any role at all.

If you use the provident fund loan, interest may be slightly lower.

But the sales girl told him that provident fund loans were long and cumbersome, so it was better to use commercial loans to make a total price of 2% off.

No matter how to calculate carefully, there is one point that Wang does not understand very well: if we decide to buy a house, we may not only empty their two years' savings, but also have a heavy repayment pressure every month. They will even take the pension money from their parents, which will seriously affect the lives of their 3 families.

He said that if the balance of their two housing provident fund can be paid for the first time, the monthly provident fund can pay monthly payment, the most ideal.

But this idea seems too unrealistic: the current level of provident fund, 10 years ago, the average price of Guangzhou housing 4000 yuan, a set of two bedroom total price about 300000 when it is OK, now can only look at the building sigh.

According to introducing, in 2010, the average wage of Guangzhou society reached 4501 yuan.

Many enterprises pay and subsidize housing provident fund by 8% ratio, that is, individuals pay 360.08 yuan and enterprise subsidies 360.08 yuan.

Accordingly, Guangzhou housing provident fund accounts can be deposited into 720.16 yuan per month.

In the same period, the average price of housing in Guangzhou was as high as 13107 yuan per square meter, and a total price of two square meters of 80 square meters was 1 million 48 thousand yuan.

{page_break}

Looking forward to exploring

High housing prices, related reforms follow up

At present, housing provident fund is generally facing the embarrassment of "buying enough for housing".

Take Guangzhou as an example, since the establishment of housing provident fund in 1992, nearly 20 years, more than 36600 organs and enterprises and institutions have covered 2 million 990 thousand of the staff and workers. The fund has accumulated 174 billion 600 million yuan, withdrew 105 billion 300 million yuan, and the fund balance is 69 billion 300 million yuan. At the same time, the scale of funds accumulated in 20 years is only equivalent to the paction volume of Guangzhou real estate one and second-hand buildings in one year.

In the past 20 years, Guangzhou housing provident fund has issued 228 thousand loans, the total amount of loans is 62 billion 100 million yuan, supporting workers to buy 16 million square meters of housing, and reclaiming loans 26 billion 300 million yuan, the current fund balance of 35 billion 800 million yuan.

That is to say, only 10% of the workers who participate in the housing provident fund in Guangzhou choose the provident fund loan to buy a house. The paction area is not as good as the current ten area one in Guangzhou, the paction area of second-hand buildings in one year - 2010, ten districts in Guangzhou, and 18 million 870 thousand and 600 square meters of second-hand housing paction area.

Han Shitong, a member of the Guangzhou Real Estate Association expert group and a real estate research expert, said that the contradiction between the housing prices in Guangzhou and the growth of the people's income is lagging behind. This makes it impossible for the provident fund to play a prominent role under the present conditions.

However, the relevant departments can study how to promote the provident fund to play a greater role in solving the housing problem of workers, and even become a part of the housing security system. This discussion will be very meaningful.

In view of the current situation of using housing provident fund to buy a house, some places have made some explorations on the deposit and payment of provident fund. For example, some places will relax the amount of provident fund from 5% to 20% or 3 times of the social average wage without the conflict with the relevant laws and regulations of the state, and simplify the links of provident fund loans so as to facilitate the workers to apply for provident fund loans.

These practices have strengthened the role of provident fund in a certain sense.