Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours.
Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions no longer allow the person to work any more (by illness or accident) or as a result of legislation concerning their position. In most countries, the idea of retirement is of recent origin, being introduced during the late 19th and early 20th centuries. Previously, low life expectancy and the absence of pension arrangements meant that most workers continued to work until death. Germany was the first country to introduce retirement, in 1880.
Nowadays most developed countries have systems to provide pensions on retirement in old age, which may be sponsored by employers and/or the state. In many poorer countries, support for the old is still mainly provided through the family. Today, retirement with a pension is considered a right of the worker in many societies, and hard ideological, social, cultural and political battles have been fought over whether this is a right. In many western countries this right is mentioned in national constitutions.
Other articles related to "retirement":
... On September 4, 2008, Culpepper announced his retirement ... He expressed his frustrations with the NFL in a 506 word retirement letter ... The main reason of his retirement was because he felt he could still be a starting quarterback in the NFL ...
... After his retirement from the Senate, Lehman remained politically active, working with Eleanor Roosevelt and Thomas K ...
... Retirement might coincide with important life changes a retired worker might move to a new location, for example a retirement community, thereby ... Tourism is a common marker of retirement and for some becomes a way of life, such as for so called grey nomads ... scientifically possible to directly show that retirement either causes or contributes to depression, the newly retired are one of the most vulnerable societal groups when it comes to depression most ...
... a news conference his union had convinced the New York State Teachers Retirement System to withdraw $450 million from Manufacturers Hanover Trust Company because the bank had poorly ... the union had convinced the Pennsylvania School Employees' Retirement System to withdraw $300 million from the same bank, and that five other state teachers' retirement funds were ... AFL-CIO officials said the AFT had convinced the retirement systems to withdraw the funds to protest loans Manufacturers Hanover had made to the Phelps Dodge ...
... After her retirement, Irina had had a good career, She was invited to the project "Dances on Ice" on Russian Reality TV, with Ice Dancer Olympic Bronze medalist Ruslan Goncharov ...
Famous quotes containing the word retirement:
“He who comes into Assemblies only to gratifie his Curiosity, and not to make a Figure, enjoys the Pleasures of Retirement in a[n] ...exquisite Degree.”
—Richard Steele (16721729)
“The student who secures his coveted leisure and retirement by systematically shirking any labor necessary to man obtains but an ignoble and unprofitable leisure, defrauding himself of the experience which alone can make leisure fruitful.”
—Henry David Thoreau (18171862)
“Douglas. Now remains a sweet reversion
We may boldly spend, upon the hope
Of what is to come in.
A comfort of retirement lives in this.
Hotspur. A rendezvous, a home to fly unto.”
—William Shakespeare (15641616)