If There Is No Provident Fund, What Should Be Added To The Interests Of Workers?

Recently, a report put the housing provident fund system on the cusp, triggering the debate about whether the abolition of housing provident fund is feasible.

Some experts believe that the housing provident fund system is no longer suitable for the new situation. However, "one is eliminated" is not the best policy. How to protect the interests of workers? There are irreplaceable means of financial support in the housing security sector. What aspects of the existing policy can be fine-tuning should be further explored.

With housing prices rising, the topic of "housing" will touch the sensitive nerves of homebuyers.

Recently, Su Hainan, vice president of the China Labour Association, said in an interview with the media, "it is proposed to abolish the housing provident fund".

The reason is very direct. The utilization rate of housing provident fund is low, which is mainly obtained by high and middle income earners. Increasing the income gap has violated the original intention of the policy.

The annual report of the national housing provident fund 2015 shows that in 2015, 123 million 933 thousand and 100 employees were paid in the housing provident fund, and 3 million 125 thousand personal housing loans were issued throughout the year.

It is estimated that the number of people who took the provident fund in that year accounted for only about 2.5% of the total number of subscribers.

"Workers pay

It is neither a year nor a single year, and the proportion of people is not a good measure. "

Li Shi, a professor at the school of economics and management of Beijing Normal University, told Xinhua that the number of people in the system and the strength of its services depend on the ratio of deposits and loans.

In 2015, the national housing provident fund loans accounted for 70% of the deposit.

"Even if 70% is not high, this means that the housing provident fund's annual deposit is still in balance, not being fully utilized."

The same is the form of financial support for housing purchase, housing provident fund loans and commercial loans.

Who is more willing to choose? "Most buyers will choose commercial loans instead of provident fund loans". Wang Meng, a chain real estate agent who has worked for 5 years, told reporters that the advantage of provident fund loans is low interest rates. But at present, the interest rate of commercial loans is not high. The most important thing is that commercial loans can get high loans and low down payments. At present, the loan interest rate of provident fund loans over 5 years is 3.25%, which is slightly lower than that of commercial loans. The lending rate of 20 years is 4.9%.

If we use the provident fund loans and commercial loans 1 million yuan separately, the equivalent amount of principal and interest is repaid in 20 years, the difference between the two monthly payments is less than 1000 yuan.

The advantage is not obvious, but the total amount of loans has been exported to many businesses, which has become the main reason that most buyers do not use the provident fund loans to buy houses.

According to the information released by the central government housing fund management center, the maximum amount of the first suite purchased by the state provident fund loan is 1 million 200 thousand yuan, and the maximum amount of two sets of loans is 800 thousand yuan.

"Commercial loans do not have a ceiling, up to 70% of the maximum loan assessment price.

The general material is to submit a salary certificate. If the loan amount is too large, it depends on the bank's running water.

Wang Meng said that the amount of loans available for commercial loans is high, and the lending period is short, which is liked by many owners.

For the provident fund loan examination and approval materials complex, procedures are numerous, is in the process of Miss Qi has a deep understanding.

Miss Qi applied to the unit for the extraction of housing provident fund, but was asked to provide her husband's information and marriage certificate at the same time, "because the house first wrote her husband's name."

"It is useless to change the order now. After all, the husband is the principal lender, and the procedure on his side will be even more troublesome."

Miss Qi is worried that the name of the house will affect other pactions. The house is a joint purchase after marriage, but it has indeed applied its own purchase qualifications.

The proposal to abolish the housing provident fund system originally came from a report issued by the China Income Distribution Research Institute of Beijing Normal University in August this year.

In Li Shi's view, the housing provident fund system is not suitable for current housing security needs.

On the one hand, the development of business loans is relatively perfect, which can completely complement the housing finance system, and the market operation effect is better. On the other hand, the public servants and employees of public institutions are much more involved in the payment of the crowd. This compulsory subsidy mode will increase the inequality of income distribution.

For ordinary workers, whether or not to cancel is not the key point. Whether there is a better solution to purchase housing finance as an alternative is their greatest concern.

Beijing girl Jiang Tong supports the abolition of the housing provident fund. "First, if the provident fund is converted into wage payment, there will be more income every month, and no need to wait for retirement." two, even if the house is purchased again, business loans can also be replenished.

It is the basic principle that the interests of employees are not damaged. If we abolish the provident fund system, we should make supplements in the links of loans and enterprise subsidies.

Li Shi explained in detail that in the loan link, business loans can be used as an effective substitute. In addition, the form of discount loans is also worth exploring, and the management method is simpler. In the aspect of enterprise subsidies, the housing provident fund can be changed to a part of wages.

Faced with the question of whether discount loans can achieve the effect of provident fund subsidies, Li Shi said that discount loans should be resolved by the government. By lowering interest rates, the overall cost of home buyers' loans will be reduced so as to achieve financial support for people who need to buy houses. In opposition to the abolition of the housing provident fund industry, the housing provident fund system does have defects, but it has yet to "Cancel" this step.

Yan Yuejin, research director of the center for think-tank of Yi Ju Research Institute, told reporters: "abolition of the provident fund system is not realistic. We can not deny its practical role because of the defects of the housing provident fund system.

Moreover, the role of provident fund in supporting the first suite is still relatively large.

Xu Xun, a member of the National Policy Research Association and senior economist, also pointed out that the housing provident fund is related to people's livelihood and the fundamental interests of the people.

"Ordinary civil servants pay a monthly higher proportion of the provident fund is hard money, if canceled, what has been paid? How to compensate?" "provident fund is like buying serious illness insurance, do not know which day will be used to help you maintain a cash flow."

As early as 2012, he used his housing provident fund to purchase his own house in Beijing. He had his own consideration. Who can guarantee that he will not buy a house now, but he will not buy it in the future. Even if there is no such demand, retirement is a good thing to take out as a pen.

Yan Yuejin pointed out that the housing provident fund system should first be "subtraction", simplifying the procedures and procedures of payment, enquiry, withdrawal and renewal, and gradually reducing the barriers to extraction. The procedure is easy, and it can also combat the phenomenon of illegal extraction of some intermediary agencies to some extent.

Yan Yuejin suggested blocking the loan channel of the provident fund for the two suites, that is, giving priority to the convenience of the first set of home buyer's provident fund loans to fully meet their loan needs.

The provident fund system has the nature of mandatory savings, which has both advantages and disadvantages.

Li Shi believes that "mandatory" to allow some people who do not have housing demand to occupy funds, so that housing provident fund can not benefit more people in need.

"We should change compulsion to choose independently, and whether employees will choose to participate in provident fund payment independently. At the same time, the relevant management center can check whether there is a real demand for housing, and let special needs crowd join the system through data audit."