retirement

Retirement

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

Retirement

1. The act or process of causing a security to cease to exist. It especially applies to debt securities; when a bond for example matures is said to be retired. However, a stock or other security may also be retired if its issuer buys it back.

2. A situation in which one stops working in one's old age, or at least when one has saved enough money to last the remainder of one's life. Generally, retirement occurs after the age of 65, but this is not a hard-and-fast rule. Both governments and companies offer pensions, annuities, and other plans to provide for one's financial needs in retirement.

retirement

1. The disposal of a fixed asset at the end of its useful life. Retirement may result in a gain or loss, depending upon any compensation received for the asset and whether the asset is carried at a positive book value.

2. The voiding of a firm's own stock that has been reacquired and is being held as Treasury stock.

retirement

the termination of an individual's working career at a certain age with the expectation that he or she will no longer undertake paid employment. In the UK the normal retirement age for men has been 65 and for women 60. European law has a big effect on retirement benefits in the UK. For some time it has been required that men and women have the same pension rights in occupational schemes despite differing retirement ages, thereby meaning that women's benefits are more favourable than men's. The European Court of Justice has now ruled that benefits should be the same. This could mean that the retirement age for women will become 65. Another recent innovation, stemming from the Court, is that part-time workers can no longer be excluded from occupational pension schemes. Until recently many occupational pension schemes excluded part-time workers but the Court has ruled that since many part-time employees are female, exclusion could be a form of DISCRIMINATION.