RETIRING AGE Meaning and
Definition
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Retiring age refers to the predetermined age at which an individual is eligible to cease working and begin receiving retirement benefits or pensions. Also known as the retirement age, it represents the threshold after which a person can opt to withdraw from the workforce and enjoy financial security through retirement plans.
The specific retiring age can vary across countries, organizations, and social security systems. Generally, retirement age is determined by government policies, employment laws, or retirement plans offered by employers. In many jurisdictions, the retirement age has been gradually increasing to account for longer life expectancies and demographic shifts.
Retiring age is significant because it serves as a career milestone, symbolizing the end of active employment and the beginning of a more leisurely phase of life. It is often seen as a time for individuals to relax, pursue personal interests, spend time with family, and engage in activities that may have been postponed due to work commitments.
Additionally, the retiring age is a vital factor in the economic planning and pension systems of nations. Governments and organizations need to allocate resources to support retirees during their post-work years. Determining an appropriate retiring age requires balancing factors such as workforce requirements, social security sustainability, and the well-being of aging populations.
It is essential for individuals to stay informed about the retiring age under their employment or jurisdiction to plan their careers, long-term financial stability, and overall life goals effectively.
Common Misspellings for RETIRING AGE
- eetiring age
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- fetiring age
- tetiring age
- 5etiring age
- 4etiring age
- rwtiring age
- rstiring age
- rdtiring age
- rrtiring age
- r4tiring age
- r3tiring age
- reriring age
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- reyiring age
- re6iring age
- re5iring age
- returing age
- retjring age
Etymology of RETIRING AGE
The term "retiring age" refers to the age at which a person typically retires from work or formally withdraws from professional life. The word "retire" originated from the Middle French word "retirer" meaning "to withdraw" or "to go back".
The concept of retirement as we understand it today began to emerge during the Industrial Revolution in the 18th century when people started to live longer and more productive lives. As life expectancy increased and the idea of a fixed period of work followed by a period of rest gained popularity, governments and employers started establishing policies and regulations regarding a specific age at which individuals could retire.
The exact etymology of the phrase "retiring age" is not clear, as it is a combination of words with well-established meanings.
