Shanghai Housing Provident Fund Website
Business Guide (for Employee)
Termination of Withdrawal for Repayment

I. Scope of Application:

The service is applicable to the situation where an employee who has entrusted the withdrawal of his/her Shanghai housing provident fund (HPF) account balance for the housing loan repayment (hereinafter referred to as “withdrawal for repayment”) applies to terminate all processes of the entrusted lump-sum withdrawal.

II. Service Conditions:

1. The application for the termination of an entrusted withdrawal for the repayment of a housing loan during the validity period of the loan requires the common on-spot confirmation of all co-withdrawers, each of whom shall sign a Letter of  Termination of the Entrusted Withdrawal of the Housing Provident Fund for the Repayment of Housing Loans after the application was approved by the entrusted agency after a review.

2. Within one year from the effective date of the letter of termination, no application shall be submitted for a second HPF withdrawal for the repayment of the same housing loan.

III. Application Materials:

1. Proof of identity: The original identity cards of the borrower and the withdrawer; the people from Hong Kong, Macao and Taiwan shall provide the originals of the Mainland Travel Permit for Hong Kong and Macao Residents, the Mainland Travel Permit for Taiwan Residents or the Residence Permit for Hong Kong, Macao and Taiwan Residents; the expatriates and those who have obtained the permanent (long-term) right of residence abroad shall provide the original passport or foreign permanent resident card; the people from Hong Kong, Macao and Taiwan of China and expatriates shall provide the information (name, ID card number and contact information) and identity documents of their contacts in Chinese Mainland.

2. If the original withdrawer is dead or declared dead, his/her death certificate or the court’s judgment declaring his/her death shall be provided; for an individual from Hong Kong, Macao and Taiwan of China, the original and a photocopy of his/her death certificate notarized by a notary office in the place of his/her residence (Hong Kong, Macao or Taiwan) shall be provided; for an expatriate, the original and a photocopy of the death certificate authenticated by the Chinese embassy (consulate) in his/her country of citizenship or by the embassy (consulate) of that country in China shall be provided.

3. Other papers required by the Shanghai Provident Fund Management Center.

IV. Service Methods:

Offline:

The original service outlet that accepted the entrusted withdrawal for the repayment of housing loans.

Service procedure:

Submitting a termination application to the service outlet -- signing a Letter of Termination of the Entrusted Withdrawal of the Housing Provident Fund for the Repayment of Housing Loans.

Online:

“Suishenban service platform -- Termination of HPF Withdrawal for Housing Loan Repayment (termination of repayment from HPF)”.

Service procedure: The borrower submits an application on the “Suishenban” service platform, then all co-withdrawers log in to their own “Suishenban” accounts and confirm the termination of HPF withdrawal for housing loan repayment on the day of application.

V. Processing Period:

Concluded on the spot if the application materials are complete.

VI. Required Attendees:

The borrower(s) and all individuals participating in the withdrawal for repayment. In case of the absence of any borrower or withdrawer, a notarized power of attorney (including the specific matters entrusted) issued by a notary office and the original identity document of the entrusted party shall be provided.

VII. Notes:

1. In case of the following alterations in the HPF loan repaid through the entrusted withdrawal, the Shanghai Provident Fund Management Center reserves the right to terminate in advance or change the entrusted withdrawal, but the deduction that has entered the repayment procedure for the involved month shall continue:

(1) Regarding an HPF loan accepted after August 1, 2020, after an alteration of the borrower takes effect, the letter of entrusted withdrawal signed by the original borrower can be automatically terminated by the Shanghai Provident Fund Management Center, and the new borrower can submit a new withdrawal application to the entrusted agency.

(2) Regarding an HPF loan accepted after August 1, 2020, after a reduction of the co-borrowers takes effect, the withdrawal entrusted by the involved co-borrower can be automatically terminated by the Shanghai Provident Fund Management Center.

(3) Regarding an HPF loan accepted after August 1, 2020, after an alteration of the marriage relationship during the validity period of the loan due to the divorce of the borrower and the borrower’s spouse (not a co-borrower) takes effect, the withdrawal entrusted by the borrower’s original spouse can be automatically terminated by the Shanghai Provident Fund Management Center.

2. The Shanghai Provident Fund Management Center reserves the right to unilaterally terminate the withdrawal for housing loan repayment entrusted by the withdrawer in the following circumstances:

(1) The withdrawer’s HPF account has been frozen by a court.

(2) The withdrawer provided false information for the withdrawal application for housing loan repayment.

(3) The withdrawer is subject to other circumstances where his/her withdrawal is restricted by laws, regulations, rules or other competent departments.

3. If the effective date of the termination is before (or the same as) the monthly acceptance deadline, the termination shall be executed in the same month; if the effective date is after the monthly acceptance deadline, the termination shall be executed in the next month.

4. All co-withdrawers shall log on to their own “Suishenban” accounts and confirm the termination on the day of application, otherwise the service will be invalidated automatically.

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Address of Shanghai Provident Fund Management Center(SPFMC): No. 9 Building, 1016 Tianlin Road, Minhang District, Shanghai (postcode:200233)