Everyone needs to work to earn a living, regardless of whether they work for somebody or are self-employed. They hope to work for as long as they can, and comfortably reach their retirement age while working at a stable job. Reaching our retirement age is something often wished for so that we can reap the benefits of pensions and 401ks. Things however might not always go according to plans. Some occupations are dangerous and many jobs have their own share of hazards.
A desk job, which was once considered a safe working environment, has its own hazards too. The threat is more internal, rather than from external sources. Long hours seated in the same position at a desk and poor eating habits can lead to ailments which will prevent you from working. When you cannot do your job effectively due to ill health it can be a real distressing experience. The added stress of performing your job only affects your health more. It is in situations like these that you wish for an early retirement.
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Early retirement due to ill health is possible, and you can retire early and still benefit from your pension. Most companies also offer a voluntary retirement scheme which will provide a cash benefit upon retiring from the job, and a pension when you reach a certain age. Retirement due to ill health, however, ensures you receive a pension without the wait to reach the age bracket.
For an early retirement due to ill health, one needs to establish that they are physically or mentally incapable of doing a particular job. In a case of disability, it means the incapability of doing a similar job for one or any other employer. You cannot actually retire from a job on the grounds of ill health and then join a similar job with a different employer. Different companies have different requirements, however, the above mentioned are the most general requirements.
On meeting the requirements, the company decides to grant retirement due to ill health, as well as provides a pension to the former employee so that they can live a comfortable life.