How date of retirement is calculated, learn in this video.... ( read more )
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Retirement is a milestone that every working professional looks forward to. It is a time to reap the rewards of a lifetime of hard work and enjoy life without the burden of daily work. But, how do you calculate when you can retire? The answer lies in understanding the formula to calculate your date of retirement, as well as the pension rules that govern it. The formula to calculate your date of retirement depends on the retirement plan you are enrolled in. For instance, if you are enrolled in a defined benefit plan, the formula will include factors such as your age, years of service, and salary. On the other hand, if you are enrolled in a defined contribution plan, the formula will include factors such as ...
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