Retirement Plan

VMware provides a Defined Contribution Retirement Plan through KLP.

Eligibility

All employees who work the equivalent of 20% of a full-time position or more and are a member of the National Insurance scheme are eligible.

Employer only contributions

Plan Design

Plan Components
Plan components included in the Retirement Plan
  • Defined contribution pension
  • Waiver of contribution to pension in case of disability
  • Disability pension
  • Child’s pension
Pensionable Salary Base + Commissions and Bonus payments (OTE)
Normal Retirement Age 67 years (early retirement 62 years, late retirement 75 years)
Employee Contribution None
Employer Contribution Between 0G and 7.1 G : 4.8% of salary
Between 7.1G and 12G :   8% of salaryAlso included in the plan:

  • Disability pension that provides 69% of salary including Disability Pension from the National Insurance (Folketrygden)
  • Children’s pension based on a special formula (from 01 August 2018 it is 15% of pensionable salary)
  •  G = base amount in National Insurance (Folketrygden) – NOK 93,634

Enrolment

You don’t need to complete an enrolment form, you will be automatically enrolled into the Retirement scheme with KLP from the 01st day of your employment.

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.