Early Retirement

Posted in Human Resource Terms, Total Reads: 1180
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Definition: Early Retirement

Early Retirement is a provision to which an employee can excise and decide to retire before the company’s official retirement age. However in case of early retirement the employee receive lesser benefits than what he would have got post the official retirement age.


Social security define early retirement age at 62 over 65.

However in this case also the benefits thus received are fewer than the benefits received post 65 retirement.


Example

Military and civil service workers often take early retirement at the age of 55 years.

 

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