How To Write a Retirement Letter of Resignation


How to Write a Retirement Letter of Resignation

What should you do before you retire from your job?


After all, you can't just stop showing up one day.

Among the many other things on your retirement checklist, you must notify your employer. Often, they require you to submit an official retirement letter of resignation.


Even if writing a retirement resignation letter isn't required, it's the considerate thing to do!


Download our comprehensive list of key considerations before you retire for more helpful tips.

A retirement letter of resignation is more than just a formality. It sets in motion a process for handling changes in pay, insurance, and your retirement benefits.

How can you write a retirement letter of resignation that helps you and your company transition to the next step?

This article will address how to write a retirement letter of resignation and provide an example that you can use as a template for your own retirement letter.


What Should You Include In Your Retirement Resignation Letter?


Your resignation letter is the official notice that you're leaving your job. Since this is your formal notice, it's important to get right.

Let's get to the specifics.

What should your retirement letter of resignation include?

The letter should be formatted with the same basic elements of any formal letter, plus some retirement-specific data, as well as a statement of your retirement plans.

Perhaps the most crucial element? The date.

Dating your resignation is vital because sometimes benefits hinge on not only the retirement date itself but when you provide notice. Including the date on the letter offers a tangible way to verify when you gave notice—and how much time you provided—should a question from human resources or senior management arise.

Next, your letter should include a customary salutation and address it to your boss or the appropriate supervisor.

In the body of the letter, state your intended retirement date (your last day) and your thoughts on a transition plan. If you plan to assist with the transition or help train a new person, then make those intentions known. This act could establish more goodwill, which could go a long way if you want to transition into consulting or other part-time work in retirement.

You may only wish to make yourself available during a specific time frame, like three months. If that’s the case, be as clear as possible. For example, you might say that you will be retiring on January 1, 2022, but you are willing to stay for four weeks or until a specific date to help train your replacement.

Also, remind your employer of your current job title, how long you’ve been with the company and your most significant achievements.

For example, you might say, “I've loved my 25 years with "x" company and leading the team to create our best-selling product.”

If you want to add a personal touch to your letter, express your gratitude for having a rewarding career at the company and share your retirement plans. Lastly, close out the letter and include your contact information.

You’ll need to decide how much time you want to give your employer. While two weeks' notice is standard, many employers would appreciate a longer notice period, especially for retirement.

For example, we have a team member at my firm, Covenant Wealth Advisors, notify me of his goal for retirement two years ahead of time. Guess, what? I was super appreciative of him being so considerate because it helped me plan better. It also helped him because I was able to make his transition much more comfortable from both a timing and monetary perspective.

It's essential to give your employer enough notice to maintain goodwill and aid in the transition period. If you know you're retiring at the end of this year, consider drafting your letter at least a month or so in advance.

Even longer doesn’t hurt.


Tips To Make Your Retirement Letter Polished and Professional


Alongside being a respectful gesture, your retirement letter of resignation is also an official document that HR will use to begin processing your retirement paperwork. As it is an official document, you want it to be a good representation of you and the work you've done.

To that end, consider the following to get your point across in a professional way:


1. Strike the right tone


Be commanding and firm, but at the same time respectful. Depending on your situation, your employer may hope to convince you to stay longer. If you are confident of your plans to retire, then a firm tone can help convey that message. However, there is no need to be harsh about it. A concise and deliberate statement is entirely appropriate.


2. Proofread

You don't want to misspell your manager's name or forget to capitalize the company—awkward oversite. Ensure it's free of errors and high-quality, including the grammar—yes, punctuation and commas count. If you have a particularly literary friend, have them check it for you. You can also use an online proofreading tool such as Grammarly.


3. Choose the proper delivery method.

Your employer may have a particular required delivery method. If so, make sure to follow it. Regardless of the necessary delivery method, it’s a good idea to submit the letter electronically, so there is a record. Copy your boss and the appropriate person at HR.

These writing tips will help your business letter be as polished and professional as possible.

Retirement Resignation Letter Template


We have created a sample retirement letter template that you can use to write your own retirement letter of resignation. Simply copy the template and customize it to fit your needs.

June 6, 2024

Name

Street Address

City, State

Supervisor Name

Title

Company Name

Company Street Address

Company City, State

Dear Mr. or Ms. Supervisor,

This letter expresses my intent to retire on (Month) (Day) of this year. I have enjoyed my XX years with the company and appreciate the opportunities to help our (clients/customers).

I know it will take some time to ensure that my replacement is adequately trained and ready to take over my current responsibilities. I am willing to make myself available through the month of (Month) if you think it would be beneficial.

Thank you for the opportunity to learn and grow with an incredible team and company. My phone number is xxx-xxx-xxxx and my email address is x.

Sincerely,

Signature

Typed Name

It can be as simple as the letter above! Again, you could also mention your retirement plans in a sentence or two, but remember, brief is best.


Conclusion

Writing a formal retirement letter of resignation is a big step toward officially resigning and leaving your job.


It is an important document as it marks the beginning of your next journey. Follow the guidelines above to help your letter be as professional and polished as possible.


But, writing your retirement resignation letter is only one step in the process. You'll also need to be financially prepared for retirement.


That's where expert advice from Covenant Wealth Advisors can help.

At Covenant Wealth, we specialize in financial planning for retirement. Financial planning is the process of determining all of the financial steps you need to take to ensure your money lasts the rest of your life.


It’s important to us that you feel confident and prepared for your next step. Ready to set a retirement date?


Contact us for a free, no-obligation consultation today!


Mark Fonville, Certified Financial Planner

About Mark Fonville, CFP®


Mark is the President of Covenant Wealth Advisors and a Certified Financial Planner professional specializing in retirement income planning, tax planning, and investment management.


He has been featured in the New York Times, Barron's, Kiplinger Magazine, and the Chicago Tribune. Learn more



Disclosures:


Covenant Wealth Advisors is a registered investment advisor with offices in Richmond and Williamsburg, VA. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital.

The views and opinions expressed in this content are as of the date of the posting, are subject to change based on market and other conditions. This content contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance, and actual results or developments may differ materially from those projected.

Please note that nothing in this content should be construed as an offer to sell or the solicitation of an offer to purchase an interest in any security or separate account. Nothing is intended to be, and you should not consider anything to be, investment, accounting, tax, or legal advice. If you would like accounting, tax, or legal advice, you should consult with your own accountants or attorneys regarding your individual circumstances and needs. No advice may be rendered by Covenant Wealth Advisors unless a client service agreement is in place.

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