Meaning of the word "retirement party" in English

What does "retirement party" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

retirement party

US /rɪˈtaɪərmənt ˈpɑːrti/
UK /rɪˈtaɪəmənt ˈpɑːti/
"retirement party" picture

Noun

a party held to celebrate someone's retirement from work

Example:
We're planning a big retirement party for John next month.
She received many gifts at her retirement party.