VMware provides an auto-enroll Retirement Plan with Aviva SA.
All regular employees under the age of 45.
If you meet the statutory requirements you will be automatically enrolled into the Retirement Plan with a 3% Employee Contribution taken from monthly gross earnings (salary, variable earnings (commission/bonus) and allowances) up to the monthly Social Security Ceiling. An additional 25% of your contribution amount is topped up by the state into a separate (state) account. There is no Employer Contribution.
You have 60 days from the date the first contribution is taken to opt out of the plan and can do so directly with the provider. Contributions will be refunded into your bank account within 10 days. If you decide to opt out after 60 days, you will need to complete a form with the provider and contributions will be refunded.
All employees will be re-assessed every five (5) years and if you had opted out previously you will be automatically re-enrolled into the Retirement Plan.
Contributions are immediately vested in this plan.
When Coverage starts
You will be notified by the provider that you have been auto-enrolled and this will be effective from your first day of employment with VMware.
When Coverage ends
Coverage ends on your last day of employment with VMware.