Savings
VMware provides pensions contributions through a Defined Contribution Plan with Ageas Pensões.
Eligibility
All regular employees working on a full time or part time employment contract.
Employees participate on a voluntary basis.
Plan Design
| Plan Components | |
| Plan Components Included in the Retirement Plan | Defined Contribution DC Individual Plan. Accumulation of contributions (employer + employee), investment returns and direct state subsidy |
| Pensionable Salary | Basic salary: Gross base salary + holiday and Christmas allowances |
| Normal Retirement Age | The legal retirement age is linked with the life expectancy, and it is adjusted every year. As of 2022, it is 66 years and 7 months. From 2023, it is 66 years and 4 months |
| Employee Contribution | Up to 4% of base salary (voluntary) |
| Employer Contribution | 2.5% of base salary, plus the Company matching 50% of the employee’s contribution up to a maximum of 2% |
Enrolment
Upon joining, please complete the application form and return to HR Source.
When Coverage starts
You can join the plan as soon as you start your employment with VMware.
When Coverage ends
The company contribution will cease on your last day of employment with VMware.
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Last Updated: 13 Oct 2022, 1:11 PM