retirement

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours.
An increasing number of individuals are choosing to put off this point of total retirement, by selecting to exist in the emerging state of Pre-tirement.
Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions no longer allow the person to work any longer (by illness or accident) or as a result of legislation concerning their position. In most countries, the idea of retirement is of recent origin, being introduced during the late 19th and early 20th centuries. Previously, low life expectancy and the absence of pension arrangements meant that most workers continued to work until death. Germany was the first country to introduce retirement, in 1889.
Nowadays, most developed countries have systems to provide pensions on retirement in old age, which may be sponsored by employers and/or the state. In many poorer countries, support for the old is still mainly provided through the family. Today, retirement with a pension is considered a right of the worker in many societies, and hard ideological, social, cultural and political battles have been fought over whether this is a right. In many western countries this right is mentioned in national constitutions.

View More On Wikipedia.org
  1. Perp

    QLD How to split super when one fund already in retirement phase

    50yo couple are splitting, very amicably. Husband has much larger super fund balance - around $400K - wife has been ill / raising kids for many years. Wife is receiving a TPI pension from one of her pre-kids super funds of around $50K pa. So, issues are: 1) Wife gets $50K pa from her super...
  2. N

    NSW Under 60 retirement due to disability discrimination

    a person is aged under 60, granted access to super funds and TPD payout under super due to forced personal injury retirement and Unable to work, has put funds into income stream to live of. law says any lump sum withdrawals from the income stream taxable portion will have to pay 22% tax as not...
  3. L

    VIC Retirement village contract

    Should clauses in a contract reflect the law? For example, the law states that an operator of a retirement village is allowed to increase the monthly charges above the CPI if agreed to by a majority of a residents' committee. Should this also be clearly stated in a contract?
  4. N

    child support and retirement

    how will CSA assess a parent with ongoing child support , who wants to voluntary retire at 58 through transition to retirement, by taking a lump sum below $200K , which is tax free, from their super? there is still a 14 year old child to support, 50% with father and 50% with the mother. no...