retirement definition
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- Full Definition of RETIREMENT. 1. a: an act of retiring: the state of being retired b: withdrawal from one's position or occupation or from active working life. 2.: a place of seclusion or privacy.See retirement defined for English-language learners. See retirement defined for kids.ADVERTISEMENT.xamples of RETIREMENT. 1  She decided to take an early retirement. 2  Many fans were surprised by the champion's retirement. 3  The staff is smaller because of several retirements. 4  I'm looking forward to retirement. 5  He is ready for retirement.
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Definitions &Translations Princeton's WordNet(0.00 / 0 votes)Rate this definition: 1  retirement(noun) the state of being retired from one's business or occupation. 2  retirement(noun) withdrawal from your position or occupation. 3  retirement, retreat(noun) withdrawal for prayer and study and meditation.
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- Retirement age. Default retirement age (formerly 65) has been phased out-most people can now work for as long as they want to. Retirement age is when an employee chooses to retire. Most businesses don’t set a compulsory retirement age for their employees.
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- Accounting for asset retirement obligations. Asset retirement obligation/decommissioning cost broadly refers to the amount that a company expects to incur in disposing of the asset and reversing modifications made to the installation site.sset Retirement Obligation. Installation of a fixed asset often requires significant modification to the landscape in which the asset is erected. Such modifications affect the communities in which the assets are installed.
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Moving to Ireland: Rights of Residence in Ireland, Introduction to the Irish System, Working in Ireland, Studying in Ireland, Practical issues when travelling to Ireland, Returning to Ireland. Retirement Pension is payable to people in Ireland aged 65 who have retired from work and who have enough social insurance contributions. It is not means tested. In general, you must have been an employee and paying full-rate social insurance contributions. If you are self-employed you may also qualify.
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Pension The common use of the term pension is to describe the payments a person receives upon retirement, usually under pre-determined legal or contractual terms.
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Compensation & Benefits Retirement benefits. A retirement plan or a pension is an arrangement by an employer to provide their employees with an income when they are no longer earning a regular income from working. Retirement plans may be set up by in a variety of ways but typically will have a form of a guaranteed payment.
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What is a pension? Log In Log Out. Ultimate guide to retirement. A pension is a retirement account that an employer maintains to give you a fixed payout when you retire. It's a kind of defined benefit plan. Your payout typically depends on how long you worked for your employer and on your salary.
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pension Pension definition, a fixed amount, other than wages, paid at regular intervals to a person or to the person's surviving dependents in consideration of past services, age, merit, poverty, injury or loss sustained, etc.: a retirement pension. an allowance, annuity, or subsidy. a boardinghouse or small hotel.
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- Re: What Is Difference Between Resignation And Retirement? by Keneking: 1:37pm On Aug 26, 2014. write2obi: I was having a chat with my dad few days ago and he asked me the difference between resignation and retirement, i looked at him like WDF. Then i answered. Resignation: is when some one voluntarily leaves a job.
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- A retirement plan in which a certain amount or percentage of money is set aside each year by a company for the benefit of the employee.
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retirement 1. (Industrial Relations & HR Terms) a. the act of retiring from one's work, office, etc. b. (as modifier): retirement age. 2. (Industrial Relations & HR Terms) the period of being retired from work: she had many plans for her retirement. 3. seclusion from the world; privacy. 4. the act of going away or retreating.
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Definitions &Translations Freebase(0.00 / 0 votes)Rate this definition: A resignation is the formal act of giving up or quitting one's office or position. A resignation can occur when a person holding a position gained by election or appointment steps down, but leaving a position upon the expiration of a term is not considered resignation.
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Retirement Calculator To retire is to withdraw from an active working life, and for most retirees, for the rest of their lives. Retirement is different for everyone. Age wise, it can be during any normal working year in adulthood. Some may choose to semi-retire by gradually decreasing their work hours as they approach retirement.
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Retirement Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions no longer allow the person to work any more (by illness or accident) or as a result of legislation concerning their position.
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Retirement Benefits Service retirement or normal retirement; Learn about our Employer Contributions. Service Retirement. Service retirement is a lifetime benefit. In most cases, the employee can retire as early as age 50 with five years of service credit. If the employee became a member on or after January 1, 2013, they must be at least 52 years old to retire. All state agencies, including California State University and school employers, are treated as a single employer under the Public Employees' Pension Reform Act (PEPRA).
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- This article lists the statutory retirement age in different countries. In some contexts, the retirement age is the age at which a person is expected or required to cease work and is usually the age at which they may be entitled to receive superannuation or other government benefits.n some contexts, the retirement age is the age at which a person is expected or required to cease work and is usually the age at which they may be entitled to receive superannuation or other government benefits.
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- The data on labor force participation can be used to. construct an average retirement age, defined as the. age at which the labor force participation rate drops. below 50 percent. Based on this definition, in 2013. the average retirement age was about 64 for men and. about 62 for women (see Figure 5 on the next page).
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Retirement Main article: History of retirement. Retirement, or the practice of leaving one's job or ceasing to work after reaching a certain age, has been around since around the 18th century. Prior to the 18th century, the average life expectancy of people was between 26 and 40 years.
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Definitions &Translations Retirement pensions are typically in the form of a guaranteed life annuity, thus insuring against the risk of longevity. A pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension. Labor unions, the government, or other organizations may also fund pensions.
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- Old Age Pension. Old Age Pension is a monthly payment made to a person who has paid or been credited with enough social insurance contributions during their working life. In the case of a woman a working life is from 20yrs to 60yrs (i.e. 40yrs) and in the case of a man from 20yrs to 65yrs (i.e. 45yrs).
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- DEFINITION of 'Retirement'. When a person chooses to leave the workforce. The concept of full retirement – being able to permanently leave the workforce in old age – is relatively new, and for the most part only culturally-widespread in first-world countries.
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retire To discontinue formal employment or work at a specific place or task. In the past, in many industries, educational institutions, and public service, retirement was mandated when an employee had attained a specified age. This practice has lost its attractiveness to a large segment of the workforce, esp. among those who enjoy work. See: recreation
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Employer sponsored retirement plan A retirement plan in which both an employer and an employee make contributions into an account each month. The contributions are invested on behalf of an employee, who may begin to make withdrawals after retirement.
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retirement plan Definition. A savings and investment plan that provides income during retirement. It is often created by companies or the government for employees. A defined benefit plan and a defined contribution plan are both types of retirement plans.efinition. A savings and investment plan that provides income during retirement. It is often created by companies or the government for employees. A defined benefit plan and a defined contribution plan are both types of retirement plans.
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award pension-grant a pension to. pension off. award, grant-give as judged due or on the basis of merit; the referee awarded a free kick to the team; the jury awarded a million dollars to the plaintiff;Funds are granted to qualified researchers.