The formal retirement letter is a thoughtful, effective way to…
The formal retirement letter is a thoughtful, effective way to say goodbye.
Process leading up to retirement
Get familiar with your retirement package
Most companies have a retirement package in place. You usually first encounter it when you are hired.
Now that you are ready to retire, it is important to get familiar with your company’s retirement package and its tax implications. You also want to start making preparations for your retirement as soon as possible. This is to ensure that the transition is as smooth as possible for everyone involved.
Give your company advance warning of your intention
Even though people at your company are likely to be aware your retirement is close, you should still give notice. You should do this because it is courteous.
It allows your company to make preparations, if necessary. It also helps your company prepare in case it becomes necessary for you to stay after your retirement.
Make arrangements for consulting or training your replacement
In the event that you stay on, you should collaborate with the company on what capacity you do so. Depending on your relationship with your company, you may not want to stay on if it means ending up on a different schedule.
Please refer to the Federal Age Discrimination Law. This is to ensure that you can stay in your current position. It also tells you if you will be eligible to receive a financial settlement for any age discrimination you may experience.
Writing your retirement letter
How to go about writing a formal retirement letter
At this point, this letter should just be a formality. Write your letter either business correspondence or an email. However, make sure that it is grammatically correct, free of abbreviations and typos, and checked to perfection.
In your letter, mention a specific date for your retirement. Both your employer and you can avoid putting off your retirement.
If you are writing a letter, you might consider reviewing the value you have added over the years. State how long you worked for the company.
Your retirement letter is an excellent way to thank your boss for an enjoyable job experience. Don’t mention anything you were unhappy with. It is important to tone the letter professionally, just like the conversation you have in person.
After retirement, you might want to continue to work. In person, discuss these options with your boss. Then, repeat them in the letter as a formality.
Finally, send your letter to the Human Resource department. Your retirement benefits will not be delayed if you do so.
To Wrap Up: Don’t Forget to Stay in Touch
If you move, notify your boss of a new address. This way, they can keep in touch.
Mostly importantly, don’t forget to enjoy this stage of your life. In a few years, you’ll look back and think “I’m glad I had the chance to spend time building my career. And work with my colleagues.”