In numerous societies, the retirement with a pension is thought-out to be a right of the worker. With this backdrop, there have been several battles that have been fought over this concern. Several national constitutions in western countries have this right stated.

The concept of a pre-determined retirement came up in the 19th and 20th centuries. Previous to the emergence of this concept, the workers were permitted to labor until death in the absence of pension arrangements, and were dependent primarily upon personal savings. At present, provision of pension is given in old age after retirement that may be supported by the employers or even the state. The pre-determined retirement age is subject to variation in accordance to the country that one may reside in. In fact, in countries the pre-determined retirement age is different for both men and women. However, the pre-determined retirement age slab usually varies from 55 years up to 70 years. At most, times, some professions that involve danger and fatigue may have a comparative early retirement age slab. .

The Retirement can be understood as the point wherein a person discontinues employment entirely. An individual may even semi-retire in addition to keeping some kind of retirement job, which more out of choice rather than requirement. This generally occurs upon attainment of a determined age, whence bodily conditions don't permit the individual to exert any more either due to illness or accident. The decision of retirement can also be an outcome of a personal choice that usually happens in the presence of a sufficient pension or personal investments..