Bonus Pension Plan
VMware provides a Bonus Pension Plan with AG Insurance. This plan is in addition to the Retirement Plan with AG under the Group Insurance.
All regular employees who are entitled to a bonus or commission as part of their role.
Employees contributions are paid into the Bonus Pension Plan based upon defined contribution amounts as per the age and service related tables and whether they are in a sales or non-sales role. The contributions are taken from gross variable earnings.
VMware contributes 1.27% on top of these contributions.
Contributions are booked into the bonus pension plan in July and January each year.
The capital in the bonus pension plan can be used to purchase a residential property.
When Coverage starts
Coverage begins on your first day of employment with VMware.
When Coverage ends
Coverage ends on your last day of employment with VMware.
Last Updated: 30 Sep 2021, 6:24 AM