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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.
Retirement is the withdrawal from one's position or occupation or from one's active working life. [1] A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their job for health reasons. People may also retire when they are eligible for private or public pension benefits, although some are forced to retire when ...
A pension (/ ˈ p ɛ n ʃ ən /; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work.
Retirement home in Israel Koljonvirta retirement home in Iisalmi, Finland A temple for retired eunuchs in Beijing. Circa 1879. Jesenec Castle, a retirement home in the Czech Republic
[citation needed] A French law of 3 June 1975 changed the designation to maison de retraite (retirement home), partly because the old terminology had become derogatory. Another reform in 1999 created the new term Établissement d’hébergement pour personnes âgées dépendantes (EHPAD). [2]
Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement.The goal of retirement planning is to achieve financial independence.
Individual retirement arrangements were introduced in 1974 with the enactment of the Employee Retirement Income Security Act (ERISA). [8] Taxpayers could contribute up to fifteen percent of their annual income or $1,500, whichever is less, each year and reduce their taxable income by the amount of their contributions. [8]
Next, there are two voluntary pensions schemes – Funded occupational pension plan – PERCO (Plan d’épargne retraite) and Individual retirement savings plan - PERP (Plan d’épargne retraite populaire). [14] In PERCO, employers have to offer several investment funds to employees with different portfolios. Employees can save at most one ...