Employers of labour appreciated that beyond a certain age, the ability of an employee to perform his duties starts to decline. Consequently, when the level of performance becomes unacceptably low, the employee is expected to retire so that a replacement can be appointed. For the Public Service in Nigeria, the retirement age is 65 years, except for judiciary and academic staff of the universities where people may continue to serve until above 65 years of age. Principals, vice principals, the teachers and non-teaching staff in secondary schools are treated like those in the Civil Service and hence are expected to retire from the service at the age of 65 years or after 35 years of public service. However, there is provision for voluntary retirement after some age. Whatever the age, retirement gives a person the right to receive a gratuity and a provision both of which are based on the length of service and the personal emolument at the time of retirement. The specification as to age at which an employee should retire should enable everyone to plan to be happy in the inevitable reality of retirement life. Happy retirement is conceived as the condition in which a person has physical and mental satisfaction after retirement. The attainment of the condition is subject to social and economic need to be consciously planned for long before retirement. Hence, this book will discuss the plans which should be made to ensure satisfactory social and economic conditions of retired persons.