Blair Rogerson does paperwork in his Markham, Ont., home on Jan. 31.Jennifer Roberts/The Globe and Mail
During her 2024 annual performance review, Elizabeth Tumber-Goudin found the words spilling out before she even realized it. When her manager asked about her goals for the year, she acknowledged she had none.
“I had my career planned at that point,” she says. “I was very upfront and told them I planned to retire in about two-and-a-half to three years.”
The Ottawa-based grocery procurement specialist had long planned to retire at 55, and she hadn’t exactly kept it a secret from her colleagues, often jokingly counting down the years with them. After five years at her workplace, she felt it was only right to share her plans openly given the extensive hand-off required, while stressing that she would continue to fulfill her duties until the end.
Retirement announcements to employers mark both a personal milestone and a professional courtesy, formally setting in motion the transition to a new chapter. They offer the retiring employee a sense of closure while giving the employer time to plan a smooth handover. The process usually begins with a private conversation with a manager, followed by a formal written notice, before the news is shared with the wider team.
For Ms. Tumber-Goudin, sharing her retirement plans was less about making a formal declaration than starting an honest conversation – a first step toward transitioning into a new phase for both herself and her organization.
“I shared my plans gradually and transparently with my manager, so expectations were clear well in advance,” she says.
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While there are formal steps associated with retirement announcements, the timing and approach often depend on individual circumstances, from company norms to the potential impact on colleagues. Equally important is the emotional side of the announcement, which can stir up fears and doubts for some retirees.
“Retiring from a job is very different from quitting,” says Matthew Dennis, a financial planner at Parallel Wealth. “For many people, announcing retirement is emotionally difficult. But once they do it, the response is usually very positive, depending on the employer. It’s often a recognition that the employer helped them reach this stage of life, and they want to leave on the right note.”
When advising clients on how to communicate retirement intentions, Mr. Dennis recommends they start by reviewing company policy. Organizations typically have guidelines requiring anywhere from 30 to 90 days notice, but he suggests giving more than the minimum in highly specialized roles to ensure an effective handover.
“Giving enough notice to train someone, hand off projects and leave on good terms is best,” he says.
Employees can also set a firm retirement date while working reduced hours to help onboard their replacement, Mr. Dennis adds. This allows retirees to leave on schedule without feeling pressured to stay on longer than intended to finish projects or train successors.
The balancing act of preparing for emergencies in retirement
While giving notice early rarely carries penalties, announcing too soon can pose risks. Early announcements, which can take place well before a standard 30- to 90-day notice period, can shift workplace dynamics. And once a retiree announces a future departure date, even an informal one, it can shift how projects are assigned, often reducing long-term work and replacing it with knowledge transfer, documentation and transitional tasks.
In more serious cases, some retirees have reported giving notice during company downsizing and subsequently missing out on severance or bonus packages tied to that period.
For Blair Rogerson, who spent his entire career at one insurance firm in Markham, Ont., giving advance notice helped minimize surprises when he retired slightly earlier than planned. He had originally aimed to retire at the end of 2020 after 40 years with the company, but instead stepped away in June of that year, feeling “maxed out” by the shift to working from home. “COVID clarified that it was the right time to leave,” he says.
Although the pandemic disrupted his original timeline, Mr. Rogerson says having kept his directors informed of his plans for years helped ease the transition. His motivation was to support his colleagues.
“I started thinking about what my role required – the technical expertise, the systems, and the documents I had designed or been heavily involved in. I tried to pass all of that on in the final couple of months before I retired.”
For Mr. Rogerson, giving advance notice helped minimize surprises when he retired slightly earlier than plannedJennifer Roberts/The Globe and Mail
He felt largely confident and supported in his decision, but he says what helped ease any lingering doubts was having carefully planned his finances and postretirement life well in advance, from ensuring he had enough funds to identifying new routines and hobbies.
Similarly, Ms. Tumber-Goudin says her retirement plans have been well received by colleagues. Managing more than 170 projects, she wanted to ensure her team wouldn’t be left in a tough position.
Though she hasn’t given official notice, she plans to do it several months ahead of time and is targeting a retirement in late 2028. Having worked since she was 14 with only two brief breaks since, she’s looking forward to the change.
“I’m incredibly excited. … I’ve always worked, so I’m embracing what’s next.”
