I am a central government employee. i have been contributing to NPS tier-1 since July 2016 and accumulated a corpus of Rs 10 lakh. This corpus is invested in three NPS central government schemes of SBI, UTI and LIC, almost equally. In all these schemes, the equity exposure is very low and I want to increase the contribution in equity, given my age, to 50%. Should I switch right away to equity or wait for a market crash? Raj Khosla Founder and Managing Director, MyMoneyMantra.com, replies: Markets cannot be timed and thus you should rebalance your portfolio today rather than…
Author: Miley Selena
Many companies in Vietnam’s business hub of Ho Chi Minh city that had to close down after some of their workers were found to be infected with COVID-19 have got approval from authorities to reopen after their on-site lodging facilities for workers and epidemic prevention plans were verified. After closing down for almost 10 days as seven workers were found infected, Nidec Vietnam at the Saigon Hi-Tech Park with 6,000 employees has resumed operations though output is less than 10 per cent of normal. With 475 employees, including security guards and canteen workers, staying on-site, the factory is focusing on…
All supermarkets in HCMC will close at 5 p.m. starting Monday to comply with the city’s suspension of night-time activities amid its Covid-19 battle. More stories at Vietnam Insider’s Homepage. Retail chains like VinMart and Co.opMart will operate from 7 a.m. to 5 p.m. instead of 10 p.m. Big C outlets will open 1.5 hours earlier at 7 a.m. and close at 5 p.m. Aeon Malls and Mega Market will also apply the same hours. Most supermarkets in the city had shelves full of eggs, meat and vegetables Monday, with no sign of stockpiling. Retail chains have been doubling or…
Vietnam’s benchmark VN-Index rose 0.31 percent to 1,272.71 points Monday but with trading value plunging double-digit. Though the index remained in the red most of the day, strong buying pressure in the last hour of trading pushed it up nearly four points. More stories at Vietnam Insider’s Homepage. This is the 11th session the index has stayed in the 1,200-range as the country imposes strict social distancing measures in major localities amid surging Covid-19 cases. Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, plunged nearly 17 percent to VND16.14 trillion ($702 million).…
Authorities in central Quang Nam Province have imposed social distancing measures in Hoi An after new Covid-19 clusters were found in the town. Directive 16 has been implemented in Tan An and Thanh Ha wards, where they were found, and it requires people to stay at home except to buy food or medicines and for emergencies, Lao Dong newspaper reported. Visit Vietnam Insider’s homepage for more stories. Tan Hiep Commune, home to popular tourist destination Cham Islands, is under Directive 19, which prohibits gatherings of more than 20 people except in offices, schools and hospitals and requires people to maintain…
The Pension Fund Regulatory and Development Authority (PFRDA) has announced a facility of instant bank account verification to ensure timely credit of National Pension System (NPS) funds to the bank account of subscribers at the time of making a withdrawal from the scheme. The verification of bank account will be done via penny drop method. Under this method, usually Re 1 is credited into the bank account of the holder to check whether the bank account mentioned by the subscriber exists and is active. This was announced by PFRDA via a circular dated July 20, 2021. The pension fund regulator…
Nguyen Xuan Phuc was elected as the State President of the Socialist Republic of Viet Nam in the 2021-2026 tenure at the ongoing first working session of the 15th-tenure National Assembly. All 483 legislators present at the working session unanimously elected Nguyen to the position of the Head of the State on Monday morning. Nguyen Xuan Phuc elected as State President for 2021-2026 tenure. In his inaugural remark, Nguyen pledged to stay absolutely loyal to the nation, people and Constitution of the Socialist Republic of Viet Nam and to exert great efforts to fulfill tasks entrusted by the Party, State and people. He…
Việt Nam’s stock market struggled to find direction last week as liquidity fell continuously and foreign investors net sold a value of more than VNĐ2.22 trillion (US$96.6 million), causing analysts from securities firms to have cautious views of the market this week. On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark VN-Index inched down in the last trading session to 1,268.83 points, while the HNX-Index on the Hà Nội Stock Exchange (HNX) plunged to 301.77 points. For the week, the VN-Index lost 2.34 per cent and the HNX-Index plummeted 1.95 per cent. Both benchmarks had declined more than…
Not many investors know whether they have invested in the right funds and if their fund portfolio is on track. The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals. I. Vinod Bajaj is saving for his child’s goals and retirement. Here’s what the doctor has advised him. Goals Portfolio Recommendations Portfolio check-up Started with ELSS funds 6-7 years ago.…
By Sudhir Kaushik of Taxspanner.com Pune-based media professional Navya Kohli pays a low tax because though her salary structure is not tax efficient, she claims several deductions. One of Kohli’s parent has a severe disability which makes her eligible for a tax deduction of Rs 1.25 lakh. Taxspanner estimates that Kohli can bring down her tax by nearly Rs 62,000 if her salary is rejigged to include some tax-free perks and her company offers the NPS benefit and she also invests in the scheme on her own. Income from employer Income from other sourcesKohli should start by asking for the…