Voluntary Retirement

Voluntary retirement is when an employee chooses to retire from their job before the official retirement age or after completing a certain period of service, often due to personal reasons, financial stability, or life changes. It is a voluntary decision, meaning the employee intentionally opts to leave the workforce with the support or benefits provided by the employer or retirement plan. This process usually involves agreement on settlement terms, such as compensation, pension, or other benefits, allowing individuals to transition smoothly into retirement life while ensuring financial security.