Definitions for "Phased retirement"
Where the deceased has divided their pension entitlement into a series of segments and has agreed a plan on retirement with their pension provider to take so many segments each year.
This describes how personal pension holders who do not wish to take their pension all at once can stagger purchase of annuities over several years.
The partial 'phased' encashment of segments of a Personal Pension Plan to provide a tax free cash sum and a pension, which together will satisfy the income requirement for the pension holder.
A work schedule arrangement that allows employees to gradually reduce their full-time hours over a period of time.
Gradual reduction in working hours when approaching full retirement.
Work schedule arrangement allowing employees to gradually reduce their full-time hours over a period of one or more years.