According to china construction news, on the afternoon of June 26th, Ni Hong, Party Secretary and Minister of the Ministry of Housing and Urban-Rural Development of the People’s Rerublic of China met with Ge Haijiao, secretary of the Party Committee and chairman of Bank of China, and his party, and exchanged views on deepening the cooperation between the government and banks and promoting the high-quality development of housing and urban and rural construction.
Ni Hong pointed out that it is necessary to encourage and guide financial institutions to participate in urban construction and renewal, and promote the creation of livable, intelligent and resilient cities. It is necessary to build good houses for the people, improve the quality of housing, explore the establishment of a housing pension system, and provide life-cycle security for houses.
Among them, the "housing pension system" attracts people’s attention. Then, what is the "housing pension system"? Where does the "housing pension" money come from and what role does it play?
What is the "housing pension" system?
The "housing pension" system is not proposed for the first time.
The housing pension system is regarded as an institutional arrangement for the government to reserve housing security funds. The background of this proposal lies in the security risks brought by the aging of existing housing, but the existing special housing maintenance funds are difficult to meet the needs of housing maintenance and renovation.
According to the report of Architectural Magazine, during the two sessions this year, Chai Qiang, member of Chinese People’s Political Consultative Conference and president of China Real Estate Appraisers and Real Estate Agents Association, brought the Proposal on Early Establishment of Housing Pension System to Ensure People’s Living Safety, which pointed out that at present, China’s stock housing maintenance mainly depends on special housing maintenance funds or owners’ self-raised funds. In a single residential area, the scale of funds collected is generally only 6 million yuan-9 million yuan or even lower. With the aging of houses and ancillary facilities, the demand for maintenance funds is increasing year by year, and the maintenance funds in some residential quarters are rapidly decreasing or even drying up. The existing special maintenance funds for houses are far from meeting the demand of "all repairs should be made". It is suggested that the establishment of housing pension system can provide financial guarantee for the establishment and operation of housing safety management system and better fulfill the government’s public housing safety responsibilities.
According to official website, the Standing Committee of Jiangsu Provincial People’s Congress, during the two sessions of the National People’s Congress this year, She Caigao, deputy to the National People’s Congress and secretary of the Party Committee and chairman of Nanjing Metro Group Co., Ltd., also suggested establishing a housing pension system to explore and solve the housing safety management problems. She Caigao pointed out that "housing pension is an institutional arrangement for the government to reserve housing security funds, which can speed up the elimination of hidden dangers in housing use and solve problems left over from history."
At the same time, since last year, the government has repeatedly proposed to study the establishment of a housing pension system.
After the collapse accident of Changsha residents’ self-built buildings on April 29, 2022, the Ministry of Housing and Urban-Rural Development held a video conference on May 1 of that year and deployed a national special rectification work on the safety of self-built houses, pointing out that it is necessary to speed up the research and improvement of various systems of housing construction safety management, study and establish a housing physical examination system, and strengthen the safety guarantee of housing throughout its life cycle. It is necessary to study the establishment of a housing "pension" system to better solve the problem of the source of funds for the maintenance of existing houses.
On May 24, 2022, the General Office of the State Council issued the "Notice on the National Special Renovation Work Plan for the Safety of Self-built Houses", pointing out that "the mandatory standards for housing quality and safety should be improved, and the systems of regular physical examination, housing pension and housing quality insurance should be studied and established."
Why should we establish a "housing pension" system?
She Caigao pointed out that China’s stock housing has a long time span and a large number. Many houses were built before 2000. With the growth of housing age, the proportion of old houses continues to rise. The average age of some existing houses has reached 30-40 years, and the aging problems of houses such as structural instability, corrosion and aging of facilities, equipment and pipelines, roof leakage, and cold penetration of walls are endless. However, the special maintenance funds of some old communities are rapidly decreasing or even drying up. He took Nanjing as an example. Even in the old residential areas with special maintenance funds and current balance, nearly 30% of the residential areas still have a balance of less than 100,000 yuan, which is far from meeting the needs of aging maintenance of facilities and equipment in old residential areas at this stage.
In view of the phenomenon that the existing special maintenance funds for residential buildings can not meet the demand of "all repairs should be made", She Caigao suggested establishing a housing pension system.
Chai Qiang also pointed out in his proposal that according to "China Census Yearbook -2020" and related data, over 30% of urban family housing in China was built before this century. The scale of urban housing stock has exceeded 30 billion square meters, and with the growth of housing age, the proportion of old housing continues to rise. In view of the increasing scale of housing stock, involving more and more residents and families, it is urgent to take precautions, transform into preventive measures, and gradually accumulate "pension" for housing from now on.
Where does the "housing pension" money come from?
Regarding the question of where the "housing pension" money comes from, She Caigao suggested in her proposal that the housing pension can be managed by classification, which consists of two parts: public account and personal account.
Among them, the sources of public account funds are mainly land transfer fees, the balance of value-added income from maintenance funds, funds for the renovation of old residential areas, funds that should be collected from the transfer of "three for one industry" and urban property management awards and subsidies, etc., following the principle of "government-led, professional operation, overall use and earmarking" and adhering to the management concept of "two lines of revenue and expenditure", it is mainly used for public services such as daily compulsory physical examination of houses and purchase of comprehensive housing safety insurance.
Personal account refers to the residential special maintenance fund account, which is managed in accordance with the relevant laws and regulations on the management of special maintenance funds, and is mainly used for the maintenance, renovation and transformation of residential common parts and shared facilities and equipment after the warranty period expires.
Chai Qiang said in his Proposal on Early Establishment of Housing Pension System to Ensure People’s Living Safety that the establishment of housing pension system can provide financial guarantee for the establishment and operation of housing safety management system and better fulfill the government’s housing public safety responsibilities.
It is suggested that a certain proportion should be drawn from the land transfer income (land price) or net income (transfer income minus transfer cost) in the current year, such as more than 5% of land transfer income or more than 20% of net land transfer income, as a housing pension. Because the land transfer income mainly comes from the house, the land price or land transfer fee is charged at one time when the real estate development land is supplied, especially the land value-added income is actually mainly "taken from the house", and the land price accounts for a high proportion in the house price through bidding, auction and auction, which squeezes out the necessary expenses for ensuring the quality of housing construction and maintenance and renewal.
At the same time, give full play to the financial support role of housing pension in the life cycle safety management of housing, establish a housing physical examination system, use housing pension to carry out regular housing physical examination, "treat diseases" for old houses, realize housing safety testing, emergency evacuation and accident risk protection, form a long-term housing safety mechanism, and provide housing with life cycle safety protection.
Urban pilot is on the way.
Since the beginning of this year, the establishment of a housing pension system has been mentioned many times. Apart from some NPC deputies and CPPCC members suggesting the establishment of a housing pension system to solve the maintenance problem of old houses, a national video conference on special rectification of self-built houses was held in April this year. The meeting pointed out that it is necessary to actively build a long-term mechanism for housing safety management, accelerate the local legislation on housing safety management, and actively promote the "three systems" pilot of housing pension, regular physical examination of houses and housing quality insurance and the pilot of cross-departmental comprehensive supervision of self-built houses.
At the same time, some cities have explored the pilot work of housing pension system.
According to official website of Jiangsu Housing and Urban-Rural Development Department, on May 12th this year, Zhou Tao, a first-class inspector of the real estate market supervision department of the Ministry of Housing and Urban-Rural Development, and his party went to Nanjing to investigate and explore the pilot work of housing pension system and held a forum. At the symposium, the research team listened to the introduction of Jiangsu Province and Nanjing City on exploring the establishment of a housing pension system. Participants exchanged views on the necessity and feasibility of establishing a housing pension system, as well as the problems existing in the management and use of residential special maintenance funds and relevant suggestions.
The Central Finger Research Institute believes that the Ministry of Housing and Urban-Rural Development once again emphasizes "exploring the establishment of a housing pension system to provide life-cycle security for houses", or indicates that the construction and pilot of the housing pension system will be accelerated, which is conducive to better solving the funding problem of the renovation of old communities and improving the living quality and living environment of residents.
Chen Xiao, a senior analyst at Zhuge Data Research Center, mentioned that the exchange between the Ministry of Housing and Urban-Rural Development and the Bank of China also conveyed that the implementation of housing pension may be explored by means of cooperation between government and banks.
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