Notice on Further Easing Criteria for Rent Payment Oriented HPF Withdrawal in this Municipality

 SHGJJG No. 3 (2015)  

To Shanghai Provident Fund Management Center:

We hereby notify you of the following in regard to rent payment oriented housing provident fund withdrawal in the Municipality as per Notice on Easing Criteria on Rent Oriented HPF Withdrawal {JJ No. 19 (2015)} in a move to safeguard housing provident fund paying employees’ legitimate rights and interests, and improve housing provident fund withdrawal mechanism for better support to employee households in housing provident fund use:

1. Ease criteria for rent oriented withdrawal so as to enable both the employee and the spouse to withdraw their housing provident fund for purpose of rent payment on condition that they’ve made at least three consecutive months’ adequate housing provident fund payment and neither of them has self-owned or rental housing in the city where their personal hpf accounts are located.

2. Rent oriented withdrawal cap: For a public rental housing lessee, the amount of hpf allowable for withdrawal is equivalent to the actual rent. For a lessee of any other type of housing (such as commercial housing, public owned housing, self-owned subsidized public housing, or housing provided by an entity), the hpf withdrawal cap is set at 2000 yuan per family per month and the withdrawal amount should be within the range of the actual monthly rent payment. Any future adjustment to the monthly withdrawal cap shall be publicized by the hpf management committee.

3. Simplified essential documents required for rent oriented withdrawal. To apply for rent oriented hpf withdrawal, an applicant should provide identity certificate, marital status proof, and additionally, housing lease contract and rent payment receipt for a public rental housing. As for any other type of housing (such as commercial housing, public owned housing, self-owned subsidized public housing, or housing provided by an entity), obtainment of the residence status proof indicating neither of the applicant and the spouse has self-owned or rental housing in the city can be entrusted to the municipal provident fund management center for centralized query processing.

4. Withdrawal means and timing: In general rent oriented withdrawal is processed by means of fund transfer. An applicant may submit withdrawal application once a year, and the fund shall be automatically transferred to his designated bank account on a quarterly basis, pending re-examination the next year.

5. Centralized processing: In the case that the entity provides rental housing, the entity shall be responsible for collecting the documents and submitting them to SPFMC’s corresponding district/county management division for centralized withdrawal processing.

6. Penalities on violations such as defrauding or illegally extracting housing provident fund: As for hpf defraudation and extraction by means of falsification of contracts, presenting fake certificates or proof of tenancy, the housing provident fund management center shall report these violations to employees’ respective entities and recover the illicit fund, and opt to disqualify those employees defrauding or extracting housing provident fund for access to hpf withdrawal and hpf home loans within a specified period of time, disclose pertinent information to the public and record those violations in the credit consulting system. Any agency or individual having assisted in such falsifications shall be seriously dealt with, or even prosecuted for criminal liability under such circumstances as a crime is committed.

We hereby request the municipal provident fund management center to prepare relevant working instructions as per the Notice the soonest possible in a bid to effectively streamline the service handling procedures for the convenience of paying employees in the withdrawal process. The Notice shall be effective as of 1 May 2015.

Shanghai Housing Provident Fund Management Committee
8 April 2015