I was having a chat with my dad few days ago and he asked me the difference between resignation and retirement, i looked at him like WDF
Then i answered

Resignation: is when some one voluntarily leaves a job

Retirement: is when you had reached the mandatory retirement age laid down by your employers

Voluntary retirment. My answer here was same as its in "Resignation" just that age comes to play.


My Question is,
At what age or condition can one leave his job(with benefits) before his/her 35 years of mandatory service.

Please experience heads should help out.

@write2obi, I think you can resign at any time. But whether you are entitled to benefit depends on what your contract of service stipulates. Either way, you are entitled to move your pension contributions to another company you are leaving for.

mamateniola1: @write2obi, I think you can resign at any time. But whether you are entitled to benefit depends on what your contract of service stipulates. Either way, you are entitled to move your pension contributions to another company you are leaving for.

Thanks, but in your case the person is moving to another company, what happens if the person has no intentions of working again?

If it's pension, you can't collect it unroll yu reach a certain age but I understand there CNN be some exceptions but if leaving job prematurely,as said earlier, d company policy will guide the person.

write2obi:
Thanks, but in your case the person is moving to another company, what happens if the person has no intentions of working again?

write2obi: I was having a chat with my dad few days ago and he asked me the difference between resignation and retirement, i looked at him like WDF
Then i answered

Resignation: is when some one voluntarily leaves a job

Retirement: is when you had reached the mandatory retirement age laid down by your employees

Voluntary retirment. My answer here was same as its in "Resignation" just that age comes to play.


My Question is,
At what age or condition can one leave his job(with benefits) before his/her 35 years of mandatory service.

Please experience heads should help out.

Retirement: is when you had reached the mandatory retirement age laid down by your EMPLOYERS.
Resignation: is when some one voluntarily leaves a job or one is forced to quit by his/her employers.
Voluntary retirement. My answer here is same as "Resignation" just that age comes to play. This is borne out of self-willingness to quit without being forced out.
2nd Term resignation: When a President decides not to contest for second term in office.
Answer to your question: Anytime and with no negative records of theft etc at the workplace. Or not under investigation...

Keneking:

Retirement: is when you had reached the mandatory retirement age laid down by your EMPLOYERS.
Resignation: is when some one voluntarily leaves a job or one is forced to quit by his/her employers.
Voluntary retirement. My answer here is same as "Resignation" just that age comes to play. This is borne out of self-willingness to quit without being forced out.
2nd Term resignation: When a President decides not to contest for second term in office.
Answer to your question: Anytime and with no negative records of theft etc at the workplace. Or not under investigation...

Thanks brother, so your company's policy has to state how long you'll have to work be4 you are eligible for voluntary retirement "with benefits"?

mamateniola1: If it's pension, you can't collect it unroll yu reach a certain age but I understand there CNN be some exceptions but if leaving job prematurely,as said earlier, d company policy will guide the person.

Let's take Federal Civil Service Commission as a case study, how long is one mandated to work before you are due for pension, if you decided to quit?

write2obi:
Thanks brother, so your company's policy has to state how long you'll have to work be4 you are eligible for voluntary retirement "with benefits"?

Gratuity is payment made during continuous work for minimum of five years in an organization...but depends on structure.

You are free to retire voluntarily on health grounds or you don't like your job again or you have amassed so much wealth that you can't do Oga gdmorning again...

Politicians don't retire, resign or earn gratuity. Same applies to laborers.

You have to study your staff handbook.I have one, I will check

write2obi:
Let's take Federal Civil Service Commission as a case study, how long is one mandated to work before you are due for pension, if you decided to quit?

mamateniola1: You have to study your staff handbook.I have one, I will check

Ok, check and get back to us

To your question...Resignation is voluntary act on part of an employee to leave the job without getting any terminal benefit.

Voluntary retirement is action on part of an employee after completing a specific period in service to get all the retirement benefits.

write2obi:
My Question is,
At what age or condition can one leave his job(with benefits) before his/her 35 years of mandatory service.
Please experience heads should help out.

This varies...1. Your mode of employment which would be either a contract or a permanent staff.

2. If the latter (permanent staff) is the case, you eligibility to receive benefits upon retirement would be subjected to the company's policy which I believe should be in your staff handbook.

CrazyMan: To your question...Resignation is voluntary act on part of an employee to leave the job without getting any terminal benefit.

Voluntary retirement is action on part of an employee after completing a specific period in service to get all the retirement benefits.



This varies...1. Your mode of employment which would be either a contract or a permanent staff.

2. If the latter (permanent staff) is the case, you eligibility to receive benefits upon retirement would be subjected to the company's policy which I believe should be in your staff handbook.

Thanks, but the bolded got me confused, I tot it was supposed to part rather than all the benefits?

write2obi:
Thanks, but the bolded got me confused, I tot it was supposed to part rather than all the benefits?

I will explain much better...

In nigeria for instance, most private owned companies prefer to hand you a severance package upon retirement.

The severance package would include additional payment based on months or years of service, payment for unused vacation time or sick leave...etc. Note this package is usually paid in full.

While government parastatals and some cooperate firms pay in parts (regular installments.)

CrazyMan:
I will explain much better...

In nigeria for instance, most private owned companies prefer to hand you a severance package upon retirement.

The severance package would include additional payment based on months or years of service, payment for unused vacation time or sick leave...etc. Note this package is usually paid in full.

While government parastatals and some cooperate firms pay in parts (regular installments.)

ok that's much better

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