Noun

Singular retirement

Plural retirements

retirement (plural retirements)

1. An act of retiring, or the state of being retired; withdrawal; seclusion; as, the retirement of an officer; the portion of one's life after retiring from one's career.
2. (obsolete): A place of seclusion or privacy; a place to which one withdraws or retreats; a private abode.

Synonyms

• solitude
• withdrawment
• departure
• retreat
• seclusion
• privacy

Related terms

• retire

Retirement is the point where a person stops employment completely (or decides to leave the labor force if he or she is unemployed).. 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 don't allow the person to work any more (by illness or accident). In most countries, the idea of retirement is of recent origin, being introduced during the 19th and 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 the 1880s. 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.