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 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)
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 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)
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
Upon joining, please provide a copy of your pensions agreement and sign and return the salary deduction agreement and return to HR Source.
When Coverage starts
Employees can join the plan as soon as they start their employment with VMware.
When Coverage ends
The company contribution will cease on your last day of employment with VMware.