Retirement
Retirement is broadly understood as leaving or withdrawing oneself from one's position or occupation or from something that the person had been engaged in. People might retire when he or she feel that they are no longer being able to keep the productivity that they were previously capable of, or they may retire to vacant their position for someone who is perceived as more capable by the person. In certain offices, posts etc, there is a predetermined age after which a person has to vacant his or her seat. This age differ from organizations to organizations and posts to post.
After retirement, a person might chose to live a life of leisure or engage I a new occupation. When a person retires at an elderly age, they are not very likely to take up new occupation and hence often are found to struggle with their new identity, post retirement.