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retirement

Removal from circulation of stock or bonds that have been reacquired or redeemed. Bloomberg Financial Dictionary

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retirement re‧tire‧ment [rɪˈtaɪəmənt ǁ -ˈtaɪr-] noun

1. [uncountable] the act of leaving a job because you have reached the end of your working life, or the period of your life after you do this:

• 290 employees are eligible to take early retirement (= leave before the usual age ) .

• Mr. Baker turns 65 next month, the usual retirement age for the company's employees.

• You must make adequate provision for your retirement.

comˌpulsory reˈtirement HUMAN RESOURCES

when you have to stop working because you have reached the age your employer or your trade union has set as the age when you have to stop:

• The Sex Discrimination Act makes it unlawful for employers to have different compulsory retirement ages for men and women.

2. retirement income/benefits/pension HUMAN RESOURCES money paid to someone after they have stopped work at the end of their working life:

• IBM decided to give full retirement benefits to employees with 30 years of service, regardless of their age.
— see also individual retirement account ➔ account¹

3. [uncountable] FINANCE the act of paying off a loan completely, usually before the normal time:

compulsory retirement of

• The remaining £21 million will cover the retirement of debt.

ˈdebt reˌtirement [countable, uncountable] FINANCE

when a borrower completely pays back money that they owe, usually before the time originally planned, perhaps to replace it with a new form of debt

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retirement UK US /rɪˈtaɪəmənt/ noun

► [C or U] WORKPLACE, HR the fact of leaving your job and stopping working, usually because you have reached a particular age: »With retirement less than three years away, she began to worry about her personal finances.
»More people are taking early retirement.
»The union opposes raising the retirement age because of safety concerns.
»He announced his retirement in April in the face of mounting criticism.
»The stakeholder plan will allow 25% to be taken as tax-free cash on retirement.

► [C or U] WORKPLACE, HR the period in someone's life after they have stopped working because they reached a particular age: »We wish you a long and happy retirement
»His pensions and the money from the state meant he had a comfortable retirement.
»Many younger workers are more focused on paying off debts or making their mortgage payments than saving for (their) retirement.

► [U] ACCOUNTING, FINANCE the act of paying back a debt completely: »There will be a one-time charge of $29 million, or 15¢ a share, from the early retirement of debt.

→ See also COMPULSORY RETIREMENT(Cf. ↑compulsory retirement), DEBT RETIREMENT(Cf. ↑debt retirement), EARLY RETIREMENT(Cf. ↑early retirement), MANDATORY RETIREMENT(Cf. ↑mandatory retirement)

Financial and business terms. 2012.