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Retirement

VMware provides a retirement plan though Danica to all regular employees.

Normal Retirement Benefit

Accumulation of contributions and investment returns paid out as lump sum, annuity or life long depending on the choice of the insured.

Early Retirement Benefits

Accumulation of contributions and investment returns paid out as lump sum, annuity or life long depending on the choice of the insured. Early retirement is available from age 62 (from age 60 if the pension plan was set up before May 2007). Pension plans set up between May 2007 and January 2018 can be paid out 5 years before the public retirement age. Pension plans set up after January 2018 can be paid out 3 years before the public retirement age.

Disability

Disability benefits are provided through the retirement plan. For more information, see the Short Term and Long Term Disability page.

Death

Death benefits are provided through the retirement plan. For more information, see the Life and Accidental Death & Dismemberment page.

Retirement Contributions

*Employees must contribute at least 5% of their total annual remuneration to receive the employer contribution.

Vesting

Employer contributions vest immediately.

Enrolment

You are automatically enrolled in the Pension Plan and insured for amounts under the free cover limit when you sign the employee declaration.

When Coverage Begins

Coverage will begin from 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 unless continued privately.