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Retirement

VMware provides an Occupational Pension Plan through SPP Pension & Försäkring  for all regular employees that are age 18 or older.

VMware Contributions

VMware provides a contribution of 15% of pensionable salary (base + target variable (bonus or commission)). The premium for the Long Term Disability Plan and the Waiver of Premium Plan are paid on top of this contribution.

Employee Contributions

Employees can make voluntary contributions to the plan through a salary sacrifice arrangement. VMware pays approx 5.7% saving as an additional contribution to the Retirement plan to make the arrangement cost neutral for the company. For example, if you sacrifice salary of SEK 1,000, VMware will pay SEK 1,057 to the Retirement plan.

Vesting

You are immediately 100% vested.

Normal Retirement Benefits

The retirement benefit will mainly depend on premium amounts paid and the value of the accumulated funds at retirement. The accumulated account balance at retirement is used to buy a retirement annuity of 5 to 20 years (at the discretion of the employee). Life annuities are also available.

Death Benefit

You can choose to purchase family pension insurance through the Retirement plan.

Enrolment

You are automatically enrolled in the Occupational Pension Plan.

When Coverage Begins

Coverage will begin on 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. If you wish to transfer the pension insurance to a new employer this is ok, however if you wish to transfer your pension capital to another pension provider than SPP or SEB this is not permitted. If you wish to request a transfer of pension insurance or pension capital you will need to contact HR Source EMEA with a copy of the transfer form.

Please note it is not VMware policy to allow the transfer of the pension insurance to private policies not can we accept the transfer in of funds from previous employer pensions into our existing pension plan.