The academic circles are debating whether to cancel the housing provident fund： it is not the best policy to eliminate it once and for all.

　　BEIJING, Beijing, October 4 (Zhong Qing) Recently, a report pushed the housing provident fund system to the forefront, sparking a debate about whether it is feasible to "cancel the housing provident fund". Some experts believe that the housing provident fund system has not adapted to the new situation, but "eliminating it" is by no means the best policy. How to protect the interests of employees? Is there any irreplaceable financial support in the housing security link? What other aspects of the existing policy can be "fine-tuned" needs further discussion.

　　What is the utilization rate of provident fund?

　　With the rise in housing prices, the topic of "housing" will touch the sensitive nerves of buyers.

　　Recently, Su Hainan, vice president of china association for labour studies, said in an interview with the media that "it is suggested to cancel the housing provident fund". The reason is very direct. The low utilization rate of housing provident fund is mainly obtained by high and middle income people, which has violated the original intention of the policy to increase the income gap.

　　According to the 2015 Annual Report of the National Housing Provident Fund, in 2015, 123,933,100 employees were paid into the housing provident fund, while 3,125,000 individual housing loans were issued throughout the year. From this, it is calculated that the number of people who withdraw the provident fund in that year only accounts for about 2.5% of the number of people who pay.

　　"Employees pay housing provident fund not only for one year, but also for the same year. The proportion of people is not a good measure." Shi Li, a professor at the School of Economics and Management of Beijing Normal University, told the reporter of Zhongxin.com (WeChat WeChat official account: cns2012).How many people this system serves and how strong it is will depend on the example of loan-to-deposit ratio. In 2015, the national housing provident fund loans accounted for 70% of the deposit. "Even if it reaches 70%, it is not high, which means that there is still a balance in the annual deposit of housing provident fund, which has not been fully utilized.. "

　　Why can’t provident fund loans compete with commercial loans?

　　Who do buyers prefer to choose, housing provident fund loans or commercial loans, which are the financial support forms for residents to buy houses?

　　“Most buyers will choose commercial loans instead of provident fund loans.Wang Meng, a chain real estate agent who has worked for five years, told reporters,The advantage of provident fund loans is that the interest rate is low, but the interest rate of commercial loans is not high at present. The most important thing is that commercial loans can get high loans and low down payment..

　　At present, the loan interest rate of provident fund loans for more than five years is 3.25%, which is slightly lower than the commercial loan interest rate; The loan interest rate for 20 years is 4.9%. If 1 million yuan is used for provident fund loans and 1 million yuan for commercial loans, and the principal and interest are repaid in equal amounts over 20 years, the difference between the monthly repayment amounts of the two loans is less than that of 1000 yuan.

　　The interest rate advantage is not obvious, but the total amount of loans has lost a lot of commercial loans, which has become the main reason why most buyers do not use provident fund loans to buy houses.

　　According to the information publicly released by the housing fund management center of the central state organs, the maximum amount of loans for the first suite purchased by the state-run provident fund is 1.2 million yuan, and the maximum amount of loans for the second set is 800,000 yuan.

　　“There is no maximum limit for commercial loans, and the maximum loan is 70% of the evaluation price.The general material is to submit proof of salary. If the loan amount is too large, it depends on the bank’s running water. "Wang Meng said,Commercial loans have a high loan amount and a short lending period, which are liked by many owners..

　　Miss Qi, who is in the process of processing, has a deep understanding of the complicated approval materials and many procedures for provident fund loans. Miss Qi applied to the unit for the withdrawal of housing provident fund, but was asked to provide her husband’s withdrawal information and marriage certificate simultaneously, "because the house book first wrote her husband’s name".

　　"It doesn’t help to change the order now. After all, my husband is the main lender, and his procedures will be more troublesome." Miss Qi can’t help but worry that the order of the names on the house will not affect other affairs. The house was purchased together after marriage, but it did use its own qualification for buying a house.

　　If there is no provident fund, what should be taken to supplement the interests of employees?

　　The proposal to "cancel the housing accumulation fund system" originally came from a report released by China Institute of Income Distribution of Beijing Normal University in August this year.

　　In Shi Li’s view, the housing provident fund system is no longer suitable for the current housing security needs. On the one hand, the development of commercial loans is relatively perfect, which can completely supplement the housing financial system and the market-oriented operation effect is better; On the other hand, the proportion of civil servants and employees of public institutions is too large, and this compulsory subsidy model will increase the inequality of income distribution; In addition, most people who have paid the provident fund cannot enjoy this welfare, resulting in dislocation.

　　For ordinary employees, whether to cancel or not is not the key point, and whether there is a better financial solution for buying a house as an alternative is what they are most concerned about.

　　Jiang Tong, a Beijing girl, supports the cancellation of the housing provident fund. "First, if the provident fund is converted into wages, the monthly income will be more, and you don’t have to wait for retirement to receive it; Second, even if you buy a house again, commercial loans can be completely supplemented. "

　　"It is the basic principle that the interests of employees are not harmed. If the provident fund system is abolished, it should be supplemented in both loans and corporate subsidies." Shi Li specifically explained that,In the loan link, commercial loans can already be used as an effective substitute, and the form of discount loans is also worth exploring, and the management method is simpler; In the enterprise subsidy link, the housing provident fund can become a part of the salary and be distributed to employees..

　　In the face of the question of "whether the discount loan can achieve the subsidy effect of the provident fund", Li Shi said,Discounted loans should be solved by the government. By lowering the interest rate, the loan cost of buyers will be reduced as a whole, so as to achieve the purpose of financial support for those who just need to buy a house..

　　What problems will arise from the "cancellation of provident fund"?

　　In the view of people in the industry who oppose the cancellation of housing provident fund, the housing provident fund system does have defects, but it has not yet reached the step of "cancellation".

　　Yan Yuejin, research director of the think tank center of Yiju Research Institute, told the reporter, "It is not realistic to cancel the provident fund system, and its practical role cannot be denied because of the defects of the housing provident fund system. Moreover, the role of the provident fund in supporting the first suite is still relatively large. "

　　Xu Xun, a member of the National Policy Science Research Association and a senior economist, also pointed out in an interview with the media that the housing provident fund involves people’s livelihood and the fundamental interests of the people and should not be too rash. “The provident fund paid by ordinary civil servants at a high proportion every month is hard money. If it is cancelled, what should I do with the money already paid? How to compensate?"

　　“Provident fund is like buying serious illness insurance. I don’t know which day it will be used to help you maintain a cash flow.Xiao He, who used the housing provident fund to buy a house in Beijing as early as 2012, has his own considerations.Who can guarantee that if you don’t buy a house now, you won’t buy it in the future. Even if there is no such demand, it is good to take it out as pension money after retirement..

　　How to "fine-tune" and rejuvenate before the time for "big reform"?

　　Since it is difficult to "overhaul" the housing provident fund system, partial fine-tuning is also an option, and many experts and scholars have made "prescriptions" for this.

　　Yan Yuejin pointed out that,The housing provident fund system should be "subtracted" first, simplifying the procedures and processes of payment, inquiry, withdrawal and renewal, and gradually reducing the obstacles to withdrawal. The procedures are easy, and it can also crack down on the illegal withdrawal of some intermediaries to some extent..

　　There is a problem of insufficient loans for housing provident fund loans. Yan Yuejin suggested blocking the loan channel of the provident fund for the second suite, that is, giving priority to the convenience of the first home buyers’ provident fund loans to fully meet their loan needs.

　　The provident fund system has the nature of compulsory savings, which has both advantages and disadvantages. Shi Li thinks that "compulsion" makes some people who don’t need to buy houses occupy funds, which makes the housing accumulation fund unable to benefit more people in need. “It should be changed from compulsory to independent choice, and employees should choose whether to participate in the provident fund payment.At the same time, the relevant management center can judge whether there is a real demand for housing through data review, so that people with special needs can join the system. " (End)