Employees working in different organizations or rather companies are entitled to a monthly income upon retirement. Companies often enters into agreement with their employees on their plans and procedures upon retirement of the employees. There is a certain age that one has to retire with no further working to that particular company again. Although one may think that being employed by most recognized companies means just working and leaving out when one decides to, this is not the case to many of the employing companies. Since employment tends to be a contractual agreement between the involved parties, there are different processes and procedures that are involved during employment. They are of great importance to the employer as well as to the employee.