Phased retirement is a work arrangement that allows employees to gradually reduce their work hours or responsibilities as they approach retirement age. This can help employees transition from full-time work to retirement more gradually and can also benefit employers by providing a smoother transition of knowledge and expertise.

Phased retirement may involve reduced hours, flexible scheduling, job sharing, or temporary assignments. Phased retirement can be beneficial for both employers and employees, as it can help retain valuable employees and maintain continuity in the workplace. It can also help employees ease into retirement while maintaining some income and benefits.

However, phased retirement arrangements can be complex to set up and may require careful planning and communication between the employer and employee. Additionally, not all employers offer phased retirement options, so employees may need to consider alternative approaches to transitioning into retirement.