Phased Retirement
Definition

Phased Retirement refers to an arrangement to meet the needs of employees nearing their retirement age who want to keep working but do not want the long hours associated with it. A phased retirement scheme, e.g. through a part-time arrangement, allows them to remain in the workforce under a reduced and more flexible work schedule. This provides a win-win situation as the employee gets to keep earning income while the organisation retains a lot of the expertise they worked so hard to establish over a number of years.