Shanghai introduces new policy for flexible employment personnel, no household registration restrictions for housing provident fund.

The Shanghai Housing Provident Fund Management Committee recently issued the "Implementation Measures for Voluntary Deposit, Withdrawal, and Use of Housing Provident Fund for Flexible Employment Personnel in Shanghai," which will be implemented from June 1, 2025. It was announced at a press conference this afternoon that compared to the previous "Implementation Measures for Deposit, Withdrawal, and Use of Housing Provident Fund for Urban Individual Industrial and Commercial Households and their Employees, as well as Freelancers in Shanghai," the new policy does not have household registration restrictions. Flexible employment personnel in this city, as well as those with household registration in other provinces and cities, residents of Hong Kong, Macau, Taiwan, and foreigners, are all eligible to participate. According to the new policy, the deposit of housing provident fund for flexible employment personnel is more flexible. Flexible employment personnel can sign an agreement with the Municipal Housing Provident Fund Center to specify the deposit amount, deposit method, rights and obligations of both parties, etc. Flexible employment personnel can determine the deposit base within the specified range based on their income, and choose the deposit ratio. The monthly deposit amount is equal to the deposit base multiplied by the deposit ratio. Based on the 2024 deposit standards, the minimum monthly deposit amount for flexible employment personnel is 270 yuan, and the maximum is 8860 yuan. Flexible employment personnel can choose to deposit on a monthly, quarterly, or semi-annual basis. Deposits are made by regular deductions from personal bank cards. If flexible employment personnel are unable to deposit due to changes in income, they can apply for a suspension of deposit. Once they meet the deposit conditions again, they can resume deposit at any time.