Retirement

VMware provides pensions contributions into a licensed pension provider (Penzijní společnost) according to the employee choice.

All regular employees (3 months service required) working on a full time or part time employment contract at least 30 hours per week.

Employees participate on a voluntary basis.

Plan components
Plan components included in the Retirement Plan	Defined Contribution DC Individual Plan. Accumulation of contributions (employer + employee), investment returns and direct state subsidy. Accumulated amount converted to pension annuity in a time of employee eligibility for benefit payments (retirement age). Early pension available under set of rules. Lump sum payment in a form of withdrawal prior the pension eligibility (subject of taxation)
Pensionable Salary	Base + Commissions and Bonus payments (OTE)
Normal Retirement Age	The standard retirement age under Pillar 1 (state pension system) currently 63 years for men and 62 years 4 months for women. Retirement age steadily growing to 65 years (men/women). Retirement age for Supplementary pension savings is set maximum 5 years prior normal (Pillar 1) retirement age.
Employee Contribution	Employee contributes to a maximum of 3% of monthly base salary (non-sales member), or 3% of OTE up to CZK 5,000 per month (sales)
Employer Contribution	100% match on the employee’s contributions, to a maximum of 3% of the employee’s base salary (if the employee is non-sales) or 3% of the team member’s OTE (if the employee is in sales), up to CZK 5,000 per month