The Benefits of Taking a Pre-Retirement Transition Leave
Do you eagerly await the day that you can retire but are concerned with whether or not your pension will be big enough? Do you wish you could take a retirement “trial run” to see if it’s truly for you or what you want in your life now? If so, you may want to consider taking a pre-retirement transition leave in order to test the waters of retirement.
What is a pre-retirement transition leave? A retirement transition leave is best for those who know they would like to retire and may even have a designated retirement date but would would like to gradually ease out of their work. Retirement transition leaves allow you to reduce your work hours or work week. For example, you can choose to only work a 3 or 4-day work week, instead of a traditional 5-day work week.
Of course, your salary will decrease accordingly, however, in most cases you will continue to pay your pension premiums, meaning your pension calculation won’t be affected. You can take advantage of a retirement leave up to two years before your chose date of retirement.
It’s important to remember that retirement is a total lifestyle milestone and transformation. During this time, you will undergo several mental, emotional, and physical changes as you adjust to a new way of life. As such, proper pre retirement planning, such as creating a pre retirement checklist is essential in making the transition from working to retirement as seamless as possible.
In addition to taking a pre-retirement transition leave, many soon to be retirees also take pre retirement courses in order to better prepare themselves for their new life. Or, you can choose to work with retirement coach who serve as your guide while navigating the retirement process.