RETIREMENT AGE Meaning and
Definition
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Retirement age refers to the specific age at which an individual becomes eligible to stop working and choose to withdraw from their career or occupation, typically to enjoy leisure activities and experience a well-deserved break after many years of work. It is the age when an individual can voluntarily exit the workforce, often with pension or retirement benefits.
The retirement age varies across countries and may be influenced by factors such as economic conditions, government policies, life expectancy, and cultural norms. In some countries, there is a standard retirement age set by law, while in others it might be left to the discretion of the individual or their employer.
Retirement age is typically associated with the concept of old age and the end of a person's working life. It serves as an important milestone in a person's life where they transition from being an active contributor in the workforce to becoming a retiree who relies on retirement savings, pensions, and social security benefits for financial support.
The retirement age has evolved over time due to various social, economic, and demographic changes. As life expectancy increases, retirement ages have also been adjusted upward in order to ensure the sustainability of retirement programs. However, debates and discussions persist regarding the ideal retirement age and how it should be determined, considering the balance between the needs of aging individuals and the economic implications of an enlarging retired population.
Common Misspellings for RETIREMENT AGE
- eetirement age
- detirement age
- fetirement age
- tetirement age
- 5etirement age
- 4etirement age
- rwtirement age
- rstirement age
- rdtirement age
- rrtirement age
- r4tirement age
- r3tirement age
- rerirement age
- refirement age
- regirement age
- reyirement age
- re6irement age
- re5irement age
- returement age
- retjrement age
Etymology of RETIREMENT AGE
The word "retirement" originates from the French term "retirer", which means "to withdraw" or "to retreat". It was derived from the Latin word "retirare", which has a similar meaning. The term "retirement age" refers to the age at which a person typically withdraws from their occupation and enters a period of leisure or reduced working hours. The concept of retirement age became more prominent in the early 20th century with the rise of social security systems and pension plans.
