Phased retirement gives employers the benefit of keeping an experienced worker and gives older people a chance to make a continued contribution at a more relaxed pace.
<h3>What is Phased retirement ?</h3>
A human resource's strategy called phased retirement enables full-time employees to work part-time hours while starting to receive retirement benefits.
Employers may be able to better manage or even lower payroll costs during the transition by utilizing phased retirement.
This plan enables the retiree to work less hours, often switching from full to part-time, and uses less payroll funds.
It is completely optional and requires the agreement of both the employee and the hiring organization.
An employee must have worked three years straight at a full-time job in order to be eligible to participate.
