Phased Retirement

A broad range of employment arrangements that allow an employee who is approaching retirement age to continue working with a reduced workload, and eventually transition from full-time work to full-time retirement. Phased retirement may include a pre-retirement, gradual reduction in hours (or days) of work and/or post-retirement, part-time work for pensioners who wish to remain employed.

Part-time, seasonal and temporary work or job-sharing are all work arrangements that can be a form of phased retirement.

The nature of retirement is changing, and many workers do not wish to experience a sudden end to work, followed by the equally sudden onset of full-time retirement. Instead, many workers wish to ease into retirement, transitioning out of the workforce with a reduced workload.

It is seen as a benefit by many older workers, as it allows them to gradually ease into retirement while maintaining a higher income than they would receive if they quit work entirely. From the employers' point of view, phased retirement programs can be used to retain skilled older employees who would otherwise retire (especially in sectors where there is a shortage of entry-level job applicants), to reduce labor costs or to arrange the training of replacement employees by older workers.


Investment dictionary. . 2012.

Look at other dictionaries:

  • phased retirement — HR a gradual reduction in hours of work, typically through working a threeor four day week in the last six months leading up to retirement. Phased retirement is a personnel policy introduced by organizations to try to ease the transition between… …   The ultimate business dictionary

  • retirement — HR the voluntary or forced termination of employment because of age, illness, or disability. Retirement age is often stipulated in the contract of employment. Differences between the retirement ages of men and women are no longer allowed in many… …   The ultimate business dictionary

  • retirement relief — Formerly, a relief from capital gains tax given to persons disposing of business assets at or over 50 years of age, or earlier if retiring due to ill health. In 1999–2003 it was phased out in favour of taper relief …   Accounting dictionary

  • retirement relief — Formerly, a relief from capital gains tax given to persons disposing of business assets at or over 50 years of age, or earlier if retiring due to ill health. In 1999 2003 it was phased out in favour of taper relief …   Big dictionary of business and management

  • gradual retirement — HR see phased retirement …   The ultimate business dictionary

  • partial retirement — HR see phased retirement …   The ultimate business dictionary

  • normal retirement age — The age at which an individual is expected to retire. At present this is normally 65 for a man and 60 for a woman in the UK. It is at these ages that state pensions begin. However, other policies can nominate other pre agreed dates, which HM… …   Big dictionary of business and management

  • Orion (spacecraft) — Infobox Spacecraft Name = Orion Caption = Orion logo designed by Michael Okuda Organization = NASA Major Contractors = Lockheed Martin Bus = Mission Type = Crew Exploration Vehicle Flyby Of = Satellite Of = Earth, Moon, Asteroid, Mars (possibly)… …   Wikipedia

  • Bas van Fraassen — Infobox Philosopher region = Western Philosophy era = 21st century philosophy color = #B0C4DE name = Bastiaan Cornelis van Fraassen birth = Goes, Netherlands death = school tradition = Analytic Philosophy main interests = Philosophy of Science,… …   Wikipedia

  • Desmond Tutu — The Most Reverend  Desmond Tutu Archbishop Emeritus of Cape Town Tutu in December 2010 Province Anglican …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.