Short and Long Term Disability
You are entitled to basic sickness benefits as an employee of VMware, however, in order to qualify for additional benefits, you must have at least six months of contributions accumulated in the last year.
Definition of Disablement
Short Term and Long Term Disability benefits replace a portion of your pay if you become ill, injured, or disabled and are unable to work. You are considered disabled when your capability to work is less than 50% of capacity when compared to a physically and mentally healthy person in a similar role. Long Term Disability is when your capability to work is less than 50% for a six month period or longer.
Short Term Disability
No supplemental Short Term Disability Insurance is provided by VMware Austria as Short Term Disability benefits are provided through the Austrian Social Security system.
Long Term Disability
VMware provides Long Term Disability (LTD) Insurance through the Group Retirement Plan for all regular employees.
Under the Flexible Benefit arrangement, you may choose level of disability cover each year. You may elect to no coverage, 10%, 20% or 30% of annual pensionable earnings.
You have 30 days from your date of hire to elect your benefits and forward back all completed forms.
If no election is made the default benefit package (employer only) consists of:
- Accidental Disability Benefit
- Death Coverage (2 times creditable salary)
- Enrollment in the Retirement Plan for pension contributions
If you elect to enroll in the Long Term Disability (LTD) insurance, you may need to undergo a medical examination and you will be given another opportunity to change your benefit election.
When Coverage Begins
Coverage will begin on the first day of month following your first day of active work as a VMware employee.
Under the Flexible Benefits Scheme, VMware contributes 6.5% of pensionable earnings (annual gross salary including commission, bonus and overtime reward up to On Target Earnings) to you for the purchase of the benefits provided under the Flexible Benefit Scheme. Through this arrangement, VMware pays 100% of the premium costs for the Long Term Disability (LTD) insurance.
When Coverage Ends
Coverage will end on the last day of your employment with VMware.
Last Updated: 22 Sep 2021, 6:31 AM