VMware provides a Pension Plan for all regular employees through AXA Winterthur.
All regular employees aged 25 and above are eligible for the old-age insurance. All regular employees aged 18 and above are eligible for risk insurance benefits. Employee and employer contributions are made as a percentage of Insured Salary into the plan and based upon age as outlined in the table below:
|Age||Your Contribution||VMware’s Contribution|
In addition, VMware bears the full costs for the risk benefits and the administration loadings.
You are immediately fully vested.
VMware is obliged to enrol you in the pension plan by sending an application form to AXA Winterthur.
When Coverage Begins
Coverage will begin on your first day of active work as a VMware employee.
When Coverage Ends
Coverage will end on the last day of your employment with VMware. Upon leaving VMware you are entitled to the accrued vested benefits which will be transferred either to the pension plan provider of your new employer or to a blocked vested benefits account.