What is semiretirement in SAP ORG-LX-T9N - Team: Corporate Translation?

SAP Term: semiretirement

• Component: ORG-LX-T9N

• Component Name: Team: Corporate Translation

• Description: The status of employees who are working reduced hours to gradually end their professional careers.

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• Key Concepts: 
  Semiretirement is a form of retirement that allows employees to reduce their working hours and workload while still receiving a portion of their salary. It is an attractive option for those who want to transition out of the workforce gradually, while still maintaining some financial stability. 
  
  How to use it: 
  Employees can apply for semiretirement through their employer. The employer will then assess the employee’s qualifications and decide whether or not they are eligible for semiretirement. If approved, the employee will be able to reduce their working hours and workload while still receiving a portion of their salary. 
  
  Tips & Tricks: 
  It is important to remember that semiretirement is not the same as full retirement. While it does provide some financial stability, it does not provide the same level of security as full retirement. Therefore, it is important to consider all of your options before deciding on semiretirement. 
  
  Related Information: 
  The U.S. Department of Labor provides information on semiretirement and other retirement options on its website. Additionally, there are many online resources available that can help you understand the different types of retirement and how they work.