There is no question that these packages can be quite attractive, and that is the intent of the employer to make it as attractive as possible from a cash in hand prospective but it may or may not be a good choice for you. Hopefully, once you are done reading you will be empowered to look carefully at what you are getting before accepting, even if you don’t have an option to refuse the ‘package’.
So what is this all about?
An early retirement package is an offer of money in return for you retiring at an earlier time than you had planned. Most companies include a severance pay based on your annual salary and your years of service. An early retirement package might also include benefits such as health insurance or life insurance.