What are the conditions for active employees to draw on the Housing Provident Fund? These demands need to be met

Purchase of a house, construction of a house or major home

If you want to buy a house, build a house or make major repairs to your own house, you can apply for a housing pension. In particular, you need to prepare the following materials: a contract for the purchase of a house, an approval document for the construction of a house, an identification certificate for the security of the house and a certificate of tenure. This information will assist you in your application。

- A one-time payment for the purchase of a house: a full collection is available on a quarterly basis, with a maximum of four times a year。

- Construction, renovation or major renovation of a home: only one withdrawal is required。

Additional elevators: If you are financing an additional elevator in the municipality’s administrative area for an existing home with ownership, you will only have to apply for one withdrawal。

Repayment of mortgages

You can also apply for a draw-back. At this point, you need to provide a housing purchase contract, a Provident Fund loan contract and a certificate of repayment from the bank. Depending on your needs, you can choose:

- Monthly withdrawal to cover the principal due for the month。

- One-time withdrawal per year, whereby the principal amount is repaid with the account balance。

Payment of rent

IF YOUR RENT EXCEEDS A CERTAIN PERCENTAGE OF YOUR FAMILY’S INCOME, YOU CAN ALSO APPLY FOR A PENSION TO PAY YOUR RENT. THE MATERIAL TO BE PROVIDED INCLUDES A RENTAL CONTRACT, A BREAKDOWN OF RENTAL COSTS AND PROOF OF FAMILY INCOME. PLEASE NOTE THAT THE TOTAL ANNUAL WITHDRAWAL CANNOT EXCEED THE TOTAL ANNUAL RENT AND CAN ONLY BE WITHDRAWN ONCE A YEAR IN FULL. THERE ARE DIFFERENCES IN THE RENT-RATE REQUIREMENTS BETWEEN DIFFERENT REGIONS, FOR EXAMPLE, CHANGSHA MAY APPLY FOR THE DRAWING OF THE PROVIDENT FUND WHEN RENT EXCEEDS FAMILY INCOME OF 151 TP3T。

Family financial difficulties

If the family is in financial difficulty and receives the minimum subsistence allowance, you can apply for the pension by providing a certificate of poverty or a certificate of the minimum subsistence allowance, and you can support a one-time full withdrawal。