Normal retirement

Normal retirement

The age or number of working years after which a pension plan beneficiary can retire and receive unreduced benefits immediately.

Normal Retirement

A situation in which a worker stops working and is eligible to receive benefits from a pension or other retirement plan without having to pay back taxes and/or a penalty. Normal retirement may occur at a certain age, such as 65, and/or after a certain number of years working for the company.
References in periodicals archive ?
If you choose to start cashing in your Social security checks before your normal retirement age, your benefits are reduced.
Before reaching the normal retirement age of 57 on May 8, 2016, Mr Chau has been approved to extend his service for 12 months to May 7, 2017.
At the maximum payment coming to a worker retiring in 2016 at normal retirement age and who has earned the maximum during a working career, the payout is $2,639 a month .
IRS Proposes Normal Retirement Age Rule for Governmental Plans
The payout will not exceed 80% of gross salaries which would be paid to any staff member from the date of the gratuitous amount until the date of their normal retirement.
MORE than two-fifths of people in Ireland expect to work beyond the normal retirement age, a survey released yesterday showed.
HONG KONG * Hong Kong Cardinal John Tong Hon has said he has been told by the Vatican he will not be allowed to participate in this fall's hotly anticipated Synod of Bishops on family life because he is 76 years old, one year past the normal retirement age of bishops.
The normal retirement age in Bulgaria will gradually rise to reach 65 years for both men and women in 2037, parliament has decided.
Finn is 62, 13 years short of the normal retirement age of 75.
Do I have to wait until I am 65 which would have been the normal retirement age to get this?
This age will increase by two months for those born after 1954 until 1960, at which point the normal retirement age will be frozen at 67 [SSA section 216(1)(1)(D), (E)].
The theory dates to 1851 and says if a group enters the labor market -- or in this case, remains in it beyond their normal retirement date -- others will be unable to gain employment or will have their hours cut.