Definition of Phased retirement:
A phased retirement includes 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, then, post-retirement, part-time work for pensioners who wish to remain employed.
Allowing older employees to gradually reduce their work hours before retirement date, instead of an abrupt cut off. Its objective is to let the person slowly adjust to new patterns of working and living, thereby reducing the post-retirement stress which kills a large number of retirees. Also called partial retirement.
Part-time, seasonal, and temporary work or job-sharing are all work arrangements that can be a form of phased retirement.
How to use Phased retirement in a sentence?
- There are IRS limits that allow workers to earn in addition to receiving social security benefits.
- Phased retirement is exactly what it sounds like: a retirement plan that eases an employee from the workforce.
- Phasing into retirement keeps an income stream during the transition.
- Some feel that retirement phasing is easier to deal with psychologically compared to quitting work entirely.
Meaning of Phased retirement & Phased retirement Definition