Policy Guide: Housing Provident Fund Deposit Ratio Will Not Exceed 12%

Lu Kehua, Vice Minister of housing and urban rural development, said yesterday at the regular briefing of the State Office of new China that China will reduce the proportion of housing provident fund from May 1st to the beginning of this year, and that if the deposit ratio is higher than 12%, it will be regulated and adjusted for two years.

In addition, enterprises with difficulties in production and operation can not only reduce the proportion of deposit payment, but also apply for a temporary suspension of housing provident fund. After the economic benefits of enterprises are improved, they will increase the proportion of deposits or restore their deposits and make up for their delayed housing provident fund.

Some people think that the introduction of the new regulations of the new fund is related to the regulation of the property market. For this reason, the relevant experts said that this policy is entirely for the state to lighten the burden on the enterprises, which has nothing to do with the current property market, and has nothing to do with inventory, and has nothing to do with personal housing accumulation fund loans.

"Eighteenth regulations on housing provident fund management regulations,"

The ratio of deposit to the unit housing provident fund shall not be less than 5% of the monthly average wage of the workers in the previous year; the eligible cities can appropriately raise the proportion of deposit.

The specific deposit ratio shall be drawn up by the housing provident fund management committee, and approved by the people's government at the corresponding level, and approved by the people's Government of the province, autonomous region and municipality directly under the central government.

In 2005, the Ministry of construction, the Ministry of Finance and the people's Bank issued the second directive on the specific issues of housing provident fund management. The article stipulates that "the ratio of units and workers should not be less than 5%, and in principle, no more than 12%".

There is a difference in the deposit ratio of each province, for example, the Beijing deposit ceiling is 12%, the Shanghai deposit limit is 7%, while the Guangzhou and Shenzhen limit ratio is as high as 20%.

But in early March, the Guangdong provincial government issued a series of proposals for structural reform of supply side from 2016 to 2018, which will reduce the proportion of housing provident fund deposit and deposit ceiling from 20% to 12%.

Take Beijing as an example, in 2015, the maximum deposit limit of Beijing provident fund was 4654 yuan, and the upper limit of monthly payment of units and individuals was 2327 yuan, that is to say, even if your monthly salary is higher, the unit and individual can only pay 2327 yuan at most.

Turning to the characteristics of this policy adjustment, Lu Kehua said that the reduction of housing provident fund deposit ratio, there are three obvious characteristics: one is phased.

Clearly reducing the proportion of housing provident fund payment is phased, from May 1, 2016 onwards, implemented for two years.

Therefore, the reduction of the housing provident fund deposit ratio is based on the current actual situation, phased measures, not long-term institutional arrangements.

Two, we should appropriately reduce the proportion of housing provident fund payment.

The magnitude of the reduction should be in line with the actual situation of the local area. In order to meet the actual demand of reducing the cost, we should consider the interests and affordability of the staff.

The three is to give more places.

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The Ministry of housing and the Ministry of housing is now formulating the notice on regulating and phasing the proper reduction of the proportion of housing provident fund payment. It clearly states that the people's governments of all provinces, autonomous regions and municipalities directly under the central government should, in light of the actual situation in the region, put forward a specific way to reduce the proportion of housing provident fund payment proportions at a periodic stage, and be implemented by the Municipal People's government.

This is to take account of the different levels of economic development in different regions, and the situation of housing provident fund deposit is also different. Giving more autonomy to local governments can enhance the pertinence and effectiveness of this policy adjustment.

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The proportion of provident fund will also be changed accordingly.

At present, the calculation formula of provident fund deposit is: the amount of monthly provident fund paid by the unit and the individual = the average wage of the last year and the proportion of housing provident fund deposit.

If you work in Shenzhen, your monthly average salary in 2015 is 10000 yuan. If the previous provident fund deposit ratio is 20%, then the units and individuals should pay 10000 x 20%=2000 per month, and your monthly provident fund is equivalent to 4000 yuan.

Assuming that the adjusted deposit ratio is reduced to 12%, the units and individuals should pay 10000 x 12%=1200 yuan, and the monthly provident fund is 2400 yuan, which is 1600 yuan less than before. However, the wage increase is only 800 yuan higher than the previous one.

Of course, this example applies only to cities with a deposit ratio of more than 12%, which does not exist for Beijing.

For some units in some areas, the problem of over proportionate deposit is that some units can raise their wage level through other accounts making methods and raise the proportion of provident fund payment, so that the provident fund can become a hidden source of income. Lu Kehua said that we must further discipline and manage strictly.

All housing provident fund deposit ratio higher than 12%, shall be standardized adjustment, shall not exceed 12%.

The Ministry of housing and construction will intensify supervision and inspection with regard to the implementation.

In addition, for "difficult enterprises not only can reduce the proportion of deposit, but also can apply for suspension of provident fund.

When the economic efficiency of the enterprise is improved, the proportion of deposit payment will be increased and paid back.

Does this mean that the risk of trending mines after work has increased? Is it possible to run into a company that is not in good condition, or even the provident fund is not in arrears? In this regard, the new deal stipulates that the suspension of provident fund must be discussed and passed by the workers' Congress or trade union, and it will be approved by the housing provident fund management center after being approved by the urban housing provident fund management committee.