Retirement

VMware provides a defined contribution pension plan through Irish Life. 

Eligibility 

All regular employees of VMware are eligible to join the pension plan.

Contributions 

VMware matches the employee contribution as follows:   

Contributions

Your Contribution
(% of base salary)
VMware Contribution
(% of base salary)
3% 5%
4% 6%
5% 7%
​6% 8%​

Additional Voluntary Contributions (AVCs) 

You may pay AVCs to the Plan, in excess of 6% of Plan Salary, within the maximum allowed by Revenue. You may select your preferred AVC amount via MyLife [1][VMware network access required]. 

Vesting 

Employer contributions vest after 2 years of qualifying service. 

Retirement Benefits 

Your benefits under the Plan will be dependent upon the accumulated value of your Retirement Savings Account (at the date of payment of the benefit). Your benefits will normally be paid to you from your Normal Pension Date. 

Within the limits allowed by Revenue you may, with the agreement of the Trustees, decide the pattern of your benefits to suit your personal circumstances at the time of your retirement. The benefits which may be purchased with your Retirement Savings Account at your retirement include: 

Early Retirement 

You may, with the Company’s consent, retire early at any time on grounds of incapacity due to ill-health or injury (as to which the Trustees must be satisfied) or for any other reason after you have attained age 50. 

Enrolment 

You may join the Retirement and Death and Disability Benefit plans immediately on joining VMware. Your acceptance for Death and Disability Benefits and subsequent salary related increase may be subject to you providing satisfactory medical evidence. You will be advised if you are required to provide such medical evidence. 

When Coverage Begins 

Coverage will begin once you are eligible and have completed the enrolment process. 

When Coverage Ends