All regular full-time employees of VMware are eligible to participate in the Defined Contribution Retirement Plan.
VMware contributes 7% of your monthly base salary up to JPY 55,000 per month.
You can choose to participate in making voluntary employee contributions at any time.
You can voluntarily select to contribute to the Defined Contribution Retirement Plan so that your contribution and VMware’s contribution combined reach JPY 55,000 per month. If your VMware contribution is over JPY 54,000 you will not be eligible for making voluntary employee contributions.
You are immediately 100% vested on your voluntary contributions.
Employer contributions are 100% vested after 3 years of service. However, if you reach the age of 60, you are 100% vested on all VMware contributions.
Normal Retirement Benefits
It is the total value of the Accumulated fund that will be used to purchase retirement benefits. The size of the accumulated fund will depend on the contributions invested in the scheme on the members behalf during membership and the investment return received on them.
When Participation Begins
Your participation in the Defined Contribution Retirement Plan begins on your date of hire.
When Participation Ends
Upon leaving the service of VMware you will retain the value of employer and employee contributions according to vesting schedule.
Last Updated: 13 Sep 2021, 12:22 PM