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English definition of “retirement”

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retirement

noun
 
 
/rɪˈtaɪəmənt/
[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 , debt retirement , early retirement , mandatory retirement
(Definition of retirement from the Cambridge Business English Dictionary © Cambridge University Press)
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