Voluntary Retirement Scheme (VRS) | | In the present globalised scenario‚ right sizing of the manpower employed in an organisation has become an important management strategy in order to meet the increased competition. The voluntary retirement scheme(VRS) is the most humane technique to provide overall reduction in the existing strength of the employees. It is a technique used by companies for trimming the workforce employed in the industrial unit. It is now a commonly method used to dispense
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Benefit of Saving for Retirement I. Do you every wonder about your financial status after you retire? You should save for retirement and do not depend on Social Security. Social Security benefits may not be around in the 20-30 years. Looking at our economic crisis today we may not have the fund to support our Social Security benefit users when they need it. By saving yourself for retirement you are giving yourself a piece of mind so you are able to live comfortably. Who is to say if there
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Benefits of Early Retirement Early retirement is not such a bad idea‚ but only if itÕs affordable. Today‚ people who begin this process feel confident that they can live out the rest of their lives comfortably. Still being young enough to enjoy what is earned is another good reason why someone might want to advance into retirement. Also‚ having good health is another popular reason why it is a good idea to retire early. After working hard‚ one should reward them self by enjoying what
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people retire early? For some‚ early retirement is not an option: poor-health or workplace downsizing can force people out of the workforce. People who are in poor health‚ stressed‚ or burned out also opt for early retirement. However‚ others are offered attractive retirement packages or have saved for retirement. I personally believe that the decision of whether or not to retire early‚ one has to consider it carefully‚ and planning for an early retirement is a must. An analysis of data gathered
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The Ending of Mandatory Retirement in Ontario As of December 12‚ 2006 Ontario residents can decide for themselves whether they want to continue working past the age of 65 or whether they want to terminate their employment and start to enjoy their retirement. In Ontario‚ a new law‚ Bill 211 came into effect “Ending of Mandatory Retirement Statue Law Amendment Act of 2005.” The bill was given Royal Assent on December 12‚ 2005 however in order to allow employers time to make the necessary provisions
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With the way the economy is today‚ we need all the money we can get especially when we retire. The topic of my paper is “We do not need a retirement plan because social security will cover our needs when we retire. This is a topic that I strongly disagree with; Social Security alone will not be enough to cover our needs when we retire. Social Security or SSI is a program financed through general revenues; it is designed to help adults who are blind‚ the elderly and disabled people who have little
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Voluntary Retirement Scheme Presented by: M.Y.I.Goomany Learning Objectives Understand VRS Exit policy & its Effect Understand the procedure for VRS Merits and Demerits of VRS VRS in Mauritius VRS‚ others view Vendor Repair Specialist Vertical Rescue Solution Virtual Reality System Vision Rehabilitation System Virtual Race System What is a VRS? A voluntary retirement scheme (VRS) package is offered to employees as an incentive to retire earlier
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Retirement By: tena E-mail: tena2001@aol.com Retirement Retirement seems to be one of the most often overlooked areas of people’s future plan. Simply because it seems so far away‚ it is an area that is subject to procrastination. People are expected to live longer now than ever before‚ this is another reason why young adults and teenagers are not worried about saving for their retirement. The baby boom generation‚ the seventy seven million people born between 1943 and 1960‚ face an entirely
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Some of the advantages of retirement are: More time to enjoy family and hobbies Those who retire early will get an early start on all of those fun things that others will have to wait a few more years to enjoy‚ such as indulging in a favorite hobby‚ traveling‚ doing volunteer work and spending time with family and friends. The freedom to start a new career Not everyone wants to stop working when they retire some might choose to keeping working. Using there past experience some may start their
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Discrimination and Mandatory Retirement - Joyce Cook The mandatory retirement age controversy should be re-examined and redefined further. Baby boomers are very different from their predecessors; they are living longer‚ maintain lifestyles that are more active and are generally better able to continue working than in the past. The real challenge is the reality of how the insufficient number of young people will fill the vacancies left by the aging workforce. Mandatory retirement may be unavoidable
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