Migrant workers' housing fund
(China Daily)Updated: 2007-03-20 10:16
The housing fund is collected compulsorily from both employees and the employers to help residents buy housing. But most migrant workers change jobs frequently and some move among cities. The current regulations do not allow a seamless transfer of housing fund accounts among cities
More importantly, the fund cannot be withdrawn freely. Most cities do not allow withdrawal of the fund unless the participant buys a house.
In the current situation, it is almost impossible for migrant workers to come up with the money to buy city apartments. It is, therefore, almost impossible for migrant workers to get the money they and their employers deposited.
Migrant workers will only welcome realistic solutions. The best guarantee for their welfare is to be paid on time. They are unlikely to welcome the housing fund if the money cannot be easily withdrawn.
Moreover, they may feel extra pressure if they have to deduct a sum from their modest salary as the monthly contribution to the fund.
 | 1 | 2 |
(For more biz stories, please visit Industry Updates)