Every June and July, there are changes in the paychecks of office workers. "Anyone who knows what's going on knows that this is precisely the ripple effect of adjustments to the housing accumulation fund's contribution base, contribution ratio and monthly contribution limit in various places. As the average salary per person changes every year, so does the CPF fluctuate from year to year.

So what are the changes in CPF contributions this year? What are the implications of these changes? What efforts have been made by various places in the convenient use of provident funds? Economic Daily - China Economic Net reporter all help you ask.?

Multiple places raise contribution base ceiling?

According to incomplete statistics, at present, Shenzhen, Chongqing, Qingdao, Changchun, Nanchang, Urumqi and other places have released the provident fund adjustment program, before that, Shanghai has been in April 1, the implementation of the new adjustment of the provident fund contribution regulations. From the program of the above places, adjusting the upper limit of the provident fund contribution base is the mainstream. Industry insiders said this means working people will be able to reap real money from it.

Boosting the upper limit of the contribution base seems to be the first choice of many places, and the adjustments are all around 2,000 yuan. For example, Shenzhen City has adjusted the ceiling of the housing provident fund contribution base to 27,927 yuan, an upward adjustment of 2,883 yuan compared with 2018; Chongqing Municipality has also adjusted the ceiling of the housing provident fund contribution base to 20,441 yuan, an upward adjustment of 2,123 yuan compared with 2018; and the new rules of Changchun City say that the city (including Shuangyang District, Jiutai District, Yushu City, Dewei City, and Nong'an County) has adjusted its 2019 annual housing provident fund contribution base The upper limit was adjusted to 19,730 yuan, an increase of 1,696 yuan from the upper limit in 2018.?

However, there are some places that only adjusted upward the ceiling of monthly housing provident fund contributions, Qingdao and Nanchang are among them. It is understood that Qingdao adjusted the maximum monthly contribution to the housing provident fund for employees to 2,725 yuan, an increase of 219 yuan compared with 2018.?

The mention of the provident fund adjustment, many netizens look at the cloud. What is the basis for the adjustment of provident fund contributions? How is the personal contribution determined? How to calculate the unit contribution?

It is understood that, according to the "Housing Provident Fund Management Regulations", the employee's monthly contribution to the housing provident fund for the employee's own average monthly salary for the previous year multiplied by the employee's housing provident fund contribution ratio. The monthly contribution of the unit to the housing fund for the employee is the average monthly salary of the employee in the previous year multiplied by the ratio of the unit's contribution to the housing fund. This ratio, are not less than 5% of the employee's previous year's average monthly salary, varying from place to place due to different economic conditions.

Some netizens said, in that case, the deposit ratio is not the higher the better? The industry said that in order to take into account the fairness and the economic affordability of each place, the relevant state departments specifically issued a circular to regulate the ceiling of the base of the housing provident fund contributions. It is clear that the monthly salary base of the housing provident fund, shall not be higher than the employee's place of work is located in the statistical department of the city of the previous year's average monthly salary of employees published 3 times. Where more than 3 times, all to be standardized and adjusted.

Encourage the withdrawal of provident fund for rental housing?

Currently, the real estate market is becoming increasingly stable under the positioning of "housing without speculation". At the same time, the "one city, one policy" "rent and sell and lift" is also gradually landing. As a result, the use of provident funds in various places is further tilted towards home buyers in need and home renters.

The data is most persuasive.In the number of personal housing loans issued in 2018, the middle- and low-income groups accounted for 95.73 percent, and the first set of housing loans accounted for 85.91 percent. Experts say the high proportion of first homes shows that speculators have been increasingly squeezed out of the real estate market.?

Meanwhile, in 2018, housing rental withdrawals amounted to 73.040 billion yuan, an increase of 64.22 percent over the previous year, the fastest growth rate among all types of housing consumption withdrawals.?

Recently, many places have encouraged the normal housing needs of the above two groups of people by simplifying the withdrawal procedures of the provident fund, raising the withdrawal amount, and relaxing the withdrawal for purchasing a house in a different place.?

Xia Lei, vice president of Evergrande Research Institute, told the reporter that the provident fund focuses on supporting the first set of rigid demand and improving home ownership groups, and this policy orientation is very obvious. For this reason, many cities limit the provident fund loan to buy a third set of housing, limit the purchase of a second set of housing when the proportion of down payment and the total amount of the loan.?

Xia Lei said the housing rental policy of renting and selling is the general trend. Provident fund will play a more important role in housing rental. Encourage the withdrawal of provident fund for rental housing to a certain extent can promote the future development of housing rental, and further solve the housing problem of young people in big cities. Some cities have explicitly prioritized support for rental withdrawals, simplified the procedures for rental withdrawals, and increased the limit for rental withdrawals of provident funds.?

Expanding the use of provident fund withdrawals?

With the optimization and improvement of provident fund management policies around the world, the provident fund is getting rid of the awkwardness of "tastelessness and abandonment". Many places have simplified the withdrawal procedures of the provident fund, raised the amount of withdrawal, and even encouraged the withdrawal of the purchase of houses in other places. Not only that, the scope of use of provident fund is also expanding. In addition to buying a house, some cities can withdraw their provident funds for renting a house, renovation, medical treatment for major illnesses, payment of low income insurance and so on.

The National Housing Provident Fund Annual Report 2018 shows that the efficiency of provident fund business has been improving. On the one hand, the number of approval requirements is reduced, and when employees apply for housing provident fund withdrawal and loan business, copies of identification materials are comprehensively canceled; on the other hand, the construction of the integrated service platform is accelerated, and at the end of 2018, 212 cities in the districts basically built an integrated service platform, and 147 cities in the districts realized a direct connection between the business system and the transfer and succession platform, and the platform settled 380,000 transfer and succession operations for the whole year ****, The transfer of funds amounted to 10.8 billion yuan.

The relevant person in charge of the Ministry of Housing and Urban-Rural Development introduced in May this year, the Ministry of Housing and Construction issued a "notice on the establishment of a sound housing provident fund comprehensive service platform", requiring the full use of information technology, such as big data, cloud computing, to accelerate the construction of the service platform, improve the function of the service platform, enrich the type of online business for the type of effective increase in the rate of departure from the counter, effectively improving the ease of service of housing provident fund. It is foreseeable that with the notice landing, for the provident fund business will be more convenient.

It is understood that all over the world also actively improve the provident fund service, employees use the provident fund more and more convenient. For example, Hebei Province requires that by the end of June this year, the main city of each city to review the housing provident fund loans to achieve the "most run once". Chongqing Municipality at the end of September last year, the start of provident fund collection business online service hall pilot, by selecting the main city and part of the district and county more than 100 units, the first to carry out personal account opening, remittance and make up for the contribution of a number of provident fund collection business online, and so on.