This document discusses retirement of partners from a partnership firm. It defines partnership as a mutual agreement between two or more people to carry out a legal business. It identifies different types of partners like active, sleeping, senior and junior partners. It states that when one or more partners leaves the firm but the remaining partners continue the business, it is known as retirement of a partner. It provides examples of how the retiring partner's share can be distributed among the existing partners in different ratios or proportions or taken by one partner. It also lists some disadvantages of early retirement like potential negative health impacts, needing to find own health insurance, retirement savings having to last longer, and reduced social security benefits.

1. PRESTIGE INSTITUTE OF MANAGEMENT
GWALIOR
presented to -
Prof. Pooja Jain
presented by –
Naina Keswani
Priyansh Shrivastava
Anshu Dubey
Nandini Bansal
Topic = Retirement of Partner

2. PARTNERSHIP
PARTNERSHIP IS A MUTUAL
AGREEMENT AMONG PARTNERS
TO CARRY ON A LEGAL BUSINESS.
IT CAN BE FORMED AT ANYTIME,
WHEN TWO OR MORE PERSONS
DESIRE.

3. KINDS OF PARTNERS
•ACTIVE PARTNER
•SLEEPING PARTNER
•SENIOR PARTNER
•JUNIOR PARTNER
•SECRET PARTNER
•MINOR PARTNER

5. RETIREMENT OF A PARTNER
WHEN ONE OR MORE
PARTNERS LEAVES THE FIRM
AND THE REMAINING
PARTNERS CONTINUE TO DO
THE BUSINESS OF THE
FIRM, IT IS KNOWN OF A
PARTNER.

8. Various cases of new ratio and gaining ratio are -
1) Retiring partner’s share distributed in
existing ratio.

9. 2) Retiring partner’s share distributed
in specified proportions.

10. 3) Retiring Partner’s share is taken by
one of the partners.

11. DISADVANTAGES OF EARLY RETIREMENTS –
IT COULD BE BAD FOR YOUR HEALTH.
YOU’LL NEED TO FIND HEALTH INSURANCE.

12. YOUR RETIREMENT SAVINGS WILL HAVE TO
LAST FOR MORE YEARS.
YOUR SOCIAL SECURITY BENEFITS WILL BE
SMALLER.