Retirement refers to the formal cessation of one’s professional career, typically occurring when an individual reaches a certain age, has met specific criteria, or chooses to stop working. It often involves transitioning from full-time employment to a phase of life where individuals may engage in leisure activities, travel, or pursue personal interests. Retirement can also encompass financial aspects, as individuals often rely on pensions, savings, or social security benefits to support their living expenses post-employment. The age at which one retires can vary based on personal choice, financial readiness, and governmental regulations. Retirement can significantly impact an individual’s lifestyle, social interactions, and mental well-being, prompting adjustments to daily routines and the search for fulfilling activities.
Anticipated financial changes for retirees include pension hikes and increased aid for storm-affected individuals, pending validation by the Congress of Deputies. Contributive and state passive pensions will increase by 2.8%,…