Employee Retirement covers both retirement at the normal retirement age and early retirement.
A person may opt for early retirement for health reasons, to take a different job, to begin a new lifestyle or as part of a retrenchment programme.
These different scenarios will have different financial implications for the individual and for the records that need to be kept.
Electronic records management
Records of any continuing financial payments should be kept by the department responsible for pensions. The date of retirement should be noted on the personnel file. When staff leave to take up another job, whether within the public or the private sector, the personnel file should be retained against the eventuality that the individual may subsequently seek re-employment. The staff list should also be amended and the relevant authorities informed of the change.