noun
retirement allowance; severance pay; lump-sum retirement payment
A one-time payment given to an employee upon leaving a company, typically at retirement age, but also in cases of voluntary resignation or redundancy. Often a lump sum.
See also: 年金
父は退職金で世界一周旅行を計画している。
My father is planning a round-the-world trip with his retirement allowance.
早期退職に応じると退職金が割り増しになる。
If you take early retirement, your severance pay will be increased.