Why does Provident Fund become a "chicken fault" for the poor "?

"I can't do my money, but I can't do it." One side is inefficient at using a huge amount of Provident Fund, while the other side is a lot of intentionally used payers who "sigh with hope ". In recent years, complaints about the difficulty in extracting Provident Fund have continued. It is difficult to pay for the Provident Fund, which has become a common issue reflected by the payers in many regions. (First financial daily, August 28)

The Provident Fund system has been around for more than 20 years. Its initial intention was to raise funds together with employees to solve people's housing difficulties, at the beginning of its establishment, it was necessary to implement a "mandatory" system arrangement to achieve the goal of mutual assistance in the case of "a great deal of firewood. However, the existing provident fund system cannot keep pace with the times and is not suitable for the current situation in China. In addition, the changes to the old Provident Fund regulations will be delayed, which is widely criticized by the public.

What is the current National Provident Fund? How much interest is generated each year? According to the academic circles, the balance of the national housing provident fund was as high as 2011 yuan by the end of 2.1 trillion. Such a huge accumulation fund is deposited in banks and cannot play its due role. This is not only a waste of resources, but also a dereliction of duty of the Provident Fund management department. The author believes that it is imperative to revise the current housing provident fund regulations. What problems does the current provident fund system have?

First, how is it so difficult to use the Provident Fund? Currently, hundreds of billions of Provident Fund funds exist in banks, while low-and middle-income groups face the embarrassment of low usage of housing provident fund: on the one hand, the Provident Fund is only used to buy a house, as a result, it cannot use the "emergency" function through multiple channels. Compared with people's heavy living burden, "purchasing a house is difficult" is not the only burden on people. At present, "expensive medical treatment" and "high tuition fees" are equally unbearable. From the perspective of survival, it is even more important to consider that a house that cannot afford a house can be rented, and it is far less important to enjoy healthy health and quality education.

On the other hand, the current provident fund, even if it can be spent, also requires a lot of tedious procedures, many people face extremely demanding requirements when using the Provident Fund, and have to leave. Even worse, if you do not buy a house in your life, the Provident Fund can only be withdrawn once after you retire. In this way, the Provident Fund has changed to a pension, ordinary people who cannot raise the Provident Fund can only watch their money depreciate constantly and are helpless.

In addition, the Provident Fund has become an implicit benefit for some State-owned enterprises. Recently, an executive provident fund of a tobacco company was recorded as RMB 18 thousand per month. The average people whose monthly income was just the end of their population were stunned. The policies for proportional deposit and pre-tax Deduction of individuals and units enable the payment of provident fund into one benefit. Different deposit bases, coupled with a large disparity in the deposit ratio, compared to people, angry people. In reality, there are both "good Chinese organizations" that insist on paying over the standard, and a large number of non-public officials wandering outside the wall of the Provident Fund.

According to media reports last year, many industry surveys in Qingdao found that some units deposit 5000 or 6000 yuan of provident fund for their employees each month, and some units only pay 100 or 200 yuan, the deposit amount of provident fund varies between different industries by up to 70 times. The author believes that the essence of the Provident Fund is the real unfair distribution of dozens or even hundreds of times. Therefore, when the relevant departments adjust the income of state-owned enterprise executives, we should also repair the unfair deposit of the Provident Fund.

Finally, the accumulation fund has the disadvantages of subsidizing the rich by the poor. In the face of high housing prices in many cities, ordinary public-paying people cannot afford it, but they still need to pay the Provident Fund, and the deposit and loan rates of the Provident Fund are very low, this has resulted in a large number of low-and middle-income groups taking money to subsidize high-income housing groups. In addition to purchasing a house, employees generally do not enjoy the benefits of the Provident Fund in other fields.

The Development of China's provident fund system has evolved into preferential treatment for a few people based on the loss of the interests of the majority. Therefore, this policy has become a "chicken fault ". Many experts also suggest abolishing the provident fund system. The decision adopted by the Third Plenary Session of the 18 th CPC Central Committee also pointed out that the establishment of a public and standardized housing provident fund system should improve the housing provident fund withdrawal, use, and supervision mechanisms ." It seems that the reform of Provident Fund is imperative.

First, higher control and lower control, and full coverage. As a kind of policy-based support for purchasing houses, the housing provident fund should be used more for low-and middle-income classes, rather than for high-income groups in the monopoly industry, further achieve "higher control and lower control" to narrow the deposit gap.

One side should clarify the maximum payment limit and close the statement that "the tax is calculated for the part that exceeds the average monthly salary of 12% of the employees of the previous year. This provision seems to have cracked down on the use of provident fund tax avoidance, but has avoided the "backdoor" for monopoly high income ". At the same time, raise the lower limit, expand the coverage, and change from "full system coverage" to "full population coverage", so that migrant workers, temporary enterprise workers, and freelancers can enjoy the housing provident fund.

Second, high-storage and Low-loan services increase profitability. Another manifestation of the Provident Fund "robbing the poor and the rich" is that low-income people pay the same deposit as high-income people, but low-income people suffer from low-income losses due to their limited repayment ability. The author believes that it is necessary to break the current "low-deposit and Low-loan" Interest Rate Rules and implement the "high-deposit and Low-loan" rule, that is, the deposit interest rate of Provident Fund is higher than the deposit interest rate of the Bank, at least to win the CPI, the loan interest rate is lower than the bank loan interest rate. In this way, low-income users will not produce interest losses even if they do not lend, and the vulnerability that compensates high-income lenders with low-income interest losses is also blocked.

In addition, laws and regulations should be revised to improve the system. The current regulation on housing provident fund management was promulgated and implemented in 1999. Now it has been 10 years since the 2002 Revision. problems exposed during this period need to be revised and improved. For example, the regulations only stipulate that "the Organization does not pay or pay less the housing provident fund within the time limit" will be punished, but it does not involve excessive payment of the Provident Fund, this undoubtedly gives some monopoly enterprises the confidence to increase their deposit ratio without authorization. Last year, the Ministry of Housing and Urban-Rural Development has initiated the second revision of the Regulation on housing provident fund management. The author believes that only by strengthening the institutional constraints on supervision and increasing the legal cost of violations can the provident fund system be standardized, to avoid the disguised benefits of vested interests.

Third, the withdrawal scope of provident fund should be broader, which can provide more social security for low-and middle-income groups. For example, in addition to obtaining and obtaining low-interest loans when purchasing a house, the Provident Fund can also be used in the case of serious illness, children's education, and rent low-income housing. This can solve the urgent needs of low-and middle-income groups, let them really enjoy the benefits of paying the Provident Fund, rather than putting trillions of provident fund in the bank "Sleep", only when the retirement can get the embarrassing situation.

The Provident Fund system has been in use for more than 20 years, but has been criticized by all sectors. In this regard, it is difficult to extract the Provident Fund, but the scope of use is very narrow. On the other hand, in terms of provident fund payment, it has been regarded by some monopoly enterprises as a disguised welfare, which has caused a strange situation that the Provident Fund Payment varies by dozens of times in the same city. What is even more disappointing is that ordinary low-income groups with high housing prices cannot afford housing, but the provident fund they pay is used as subsidies for high-income groups to buy houses. Therefore, reform of the Provident Fund system is imperative. The author believes that the only criterion for determining whether the reform of the Provident Fund system is successful is whether the Provident Fund can truly benefit low-and middle-income groups? Can it really make low-and middle-income people feel that I can be the master of my money.

Why does Provident Fund become a "chicken fault" for the poor "?