Shenzhen's new housing provident fund policy will take effect today, allowing individuals to voluntarily increase their contribution rate.

The newly revised "Shenzhen Housing Provident Fund Management Measures" officially came into effect today! This revision focuses on the housing consumption needs of employees, promoting policy improvement and efficiency enhancement through optimizing contribution ratios, expanding coverage, and strengthening rights protection. It is noteworthy that the new regulations specify that employees can voluntarily increase their personal housing provident fund contribution ratio. The revised "Shenzhen Housing Provident Fund Management Measures" improve and revise the "Interim Measures for Shenzhen Housing Provident Fund Management" implemented since December 2010. This revision focuses on the housing consumption needs of employees, promoting policy improvement and efficiency enhancement through optimizing contribution ratios, expanding coverage, and strengthening rights protection. The "Management Measures" stipulate that employees can voluntarily apply to increase their personal contribution ratio on top of the unit contribution ratio in order to obtain a higher housing provident fund loan amount and enhance their housing consumption capability. The adjusted personal contribution ratio shall not exceed 12%. Each employee may adjust their personal contribution ratio once per housing provident fund year. Employees with processing needs can submit an application to their unit's HR officer, who will handle the adjustment procedures uniformly. (Shenzhen Special Zone Daily)