Retirement benefits refer to the financial and non-financial benefits provided to employees upon their retirement from the workforce. These benefits are designed to support employees in their post-employment years and provide them with a stable and comfortable retirement. Retirement benefits may include various components such as pension plans, retirement savings accounts (e.g., 401(k) or individual retirement accounts), social security benefits, healthcare coverage, and other perks or incentives specific to retirees. These benefits are often part of an employer-sponsored retirement plan and are aimed at helping employees secure their financial future and maintain a certain standard of living after they stop working.

Example
A company offering a defined benefit pension plan to its employees. Under this plan, employees receive a monthly pension payment upon retirement, based on factors such as their years of service and salary history. The pension provides a stable income stream during retirement, supplementing the individual's savings and social security benefits. Additionally, the company may also provide access to healthcare coverage for retirees or offer discounts on certain products and services to enhance the retirement experience. These retirement benefits demonstrate the employer's commitment to supporting employees in their retirement years and ensuring their financial well-being.