Can you get a pension of tens of thousands of yuan every month by relying on the house? Beware of scams with housing for the elderly

"You can get a pension of tens of thousands of yuan every month by relying on the house"?

Elderly people must beware of scams with housing for the elderly

　　Xinhua News Agency, Beijing, November 2 -

　　Xinhua News Agency "Xinhua Viewpoint" reporters Zhang Chao and Wang Shujuan

　　The promise that "you can get tens of thousands of yuan in pension every month with your house" is likely to be a scam.

Ms. Feng in Beijing, 57, is now in danger of losing a house. What makes her troubled is a financial scam under the banner of housing pension.

　　"Xinhua Viewpoint" reporter's investigation found that in recent years, cases of illegal fund-raising or the transfer of elderly real estate based on the concept of housing pension have occurred in Beijing, Guangdong, Henan and other places, and the victims suffered heavy losses.

Cases of elderly people falling into the trap of housing financial management

　　On October 30, Ms. Feng in Beijing received an enforcement notice from the Beijing Second Intermediate People's Court.

She may have debts of more than 5.6 million yuan or lose a house.

　　In March 2019, Ms. Feng invested in a real estate wealth management project in Beijing Lihe Jimin Investment Co., Ltd.

The actual transaction path is: Ms. Feng and Gao signed a loan contract of 5.6 million yuan, agreed that the monthly interest rate was 1.5%, and Lihe Jimin paid for Gao on his behalf; the company mortgaged Ms. Feng’s own house to Gao.

　　After receiving the 5.6 million yuan, Ms. Feng immediately transferred the money to the personal account of He Ning, the chairman of Lihe Jimin, and then signed a financial management contract with Lihe Jimin.

Lihe Jimin’s salesperson claimed that Ms. Feng can enjoy the benefits of housing for the elderly, with a guaranteed annualized rate of return of 4.5%, which is 21,000 yuan per month.

　　After Ms. Feng received several months of financial management income, the capital chain of Lihe Jimin broke.

In September 2019, Lihe Jimin was filed for investigation on suspicion of illegally absorbing public deposits, and He Ning and others were arrested.

Gao went to the arbitration institution to claim Ms. Feng's real estate rights.

The arbitration institution did not see the financial management contract between Gao and Lihe Jimin, and believed that this was a personal loan dispute between Ms. Feng and Gao and supported Gao.

　　According to incomplete statistics, in Beijing alone, on platforms such as Lihe Jimin, Zhongan Minsheng, and Puban Financial Services, more than 3,000 homeowners have fallen into the trap of house-related financial management, and most of them are elderly.

　　In April 2019, the Haidian Branch of the Beijing Municipal Public Security Bureau investigated the Zhongan Minsheng Pension Service Company's suspected illegal absorption of public deposits, involving thousands of investors.

71 people from Zhong'an Minsheng were arrested with the approval of the prosecutors.

　　Similar cases have occurred in many places across the country.

The reporter's inquiry on the China Judgment Documents website found that Guangdong, Henan, Hebei and other provinces have all been involved in housing and pension financial scam cases.

Raise the flag and set traps to induce the elderly to sign dangerous contracts

　　The basic routine of the housing pension financial management scam is: Fudge the old man to mortgage his house in exchange for money and invest in the so-called housing pension project, claiming that he can get tens of thousands of yuan in pension every month.

The elderly handed over the right to dispose of the real estate to the company. Initially, they received a high monthly return, but before long, the company lost contact and the boss ran away.

　　Why can such a routine succeed so often?

　　The reporter's investigation found that some companies confuse the elderly under the banner of national policy.

The reporter got a leaflet for the benefit of the people and said "Respond to the call of the country to achieve the ultimate goal of housing for the elderly and housing for the family."

Zhong'an Minsheng sells so-called housing-based pension products to the elderly, and under the banner of national policy encouragement, it declares that “house-based pension is an industry strongly supported by the government”.

　　Some companies use big flags as tiger skins to deceive the elderly in the name of an authority.

For example, it claims to cooperate with the Ministry of Civil Affairs, the National Committee on Aging, and the China Foundation for the Development of Aging, which is a signboard of Zhongan Minsheng to attract investment from the elderly.

The company also opened a large physical store, known as a senior care service hall built in cooperation with official institutions, and claimed to have a national fund to create the illusion of business compliance.

　　Not only do these companies use high interest rates as an inducement, they also trick the elderly into participating in the name of free travel, free "famous teachers" classes, and thank you parties.

Some companies also open restaurants, and senior citizens who become members can enjoy low-cost breakfast and lunch.

In the process, company personnel instilled the benefits of housing for the elderly.

In the Zhong'an Minsheng case, many elderly people were slowly brainwashed during the free suburban tours and "famous teachers" lectures organized by the company.

　　Designing a trap to trick the elderly into signing a standard contract is the most sinister aspect of this type of scam.

These companies often do not explicitly tell the elderly that they use mortgage loans for financial management. Instead, they use "monthly pensions" to make the elderly believe that "housing mortgages are just a form."

Be wary of projects with particularly high returns and incomprehensible. Compliant housing pension products need to be upgraded

　　According to industry experts, real housing pension insurance, also known as housing reverse mortgage pension insurance, refers to the elderly who own the complete property rights of their houses, mortgage their real estate to insurance companies or commercial banks, but continue to own the housing, use, income and economic The mortgagee agrees to the right of disposal, and receives pensions in accordance with the agreed conditions until his death; after the death of the elderly, the insurance company or commercial bank obtains the right to dispose of the mortgaged real estate, and the disposal proceeds will be used in priority to reimburse pension insurance related expenses.

　　In July 2014, the former China Insurance Regulatory Commission officially launched a pilot housing reverse mortgage pension insurance.

In July 2018, the pilot was expanded to nationwide.

However, the implementation of the insurance version of the housing pension has been cold in the market.

Currently, there are only two products on the market, Happiness Life and PICC Life, and there are few participants.

　　Jiang Ning, assistant judge of the Tiantan People's Court of the People's Court of Dongcheng District, Beijing, said that the housing and financial management scam mainly targets the elderly with low awareness of legal risks, high asset value, and rigid needs for elderly care services.

　　Jiang Ning said that commercial banks or formal insurance institutions are the main bodies that carry out housing-based pensions in compliance with the regulations. Except for these two types of entities, housing-based pensions projects carried out by other pension companies and service organizations are recommended not to participate in the elderly.

　　Cao Zhijie, a lawyer at Beijing Leishi Law Firm, said that we must be more vigilant about some investment projects that have extremely high returns, do not understand, who are not clear about the money, or who pay to become partners.

If you find that you have been deceived, you must report to the public security organ as soon as possible to stop the loss in time, and there must be no fluke.

　　Experts suggest that relevant departments such as public security and civil affairs should strengthen coordinated governance, form a combined force of supervision, and increase the crackdown on illegal and criminal acts in the field of housing for the elderly.

　　Nie Huihua, a professor at the School of Economics of Renmin University of China, believes that as a financial innovation model, the current product design of insurance companies and commercial banks to provide for the elderly mainly prioritizes meeting the elderly needs of the elderly, the elderly who have lost one’s orphans, and the elderly from low-income families. Business coverage needs to be upgraded in the future.