When do Big 4 Partners Retire? Revealed For Each Firm

Partners at any of the Big 4 firms (Deloitte, PwC, EY, and KPMG) enjoy an epic life journey. But all good things must come to an end. That’s why you may wonder when they retire and bid adieu to their offices. 

After spending some time in research, I found out that the mandatory retirement age of the partners at Big 4 firms is between 60 and 62. But they can choose to retire earlier (if they want). And, if a partner is doing really well, they might be able to keep their job past the usual limits. 

In this read, I’ll shed light on:

• When do Big 4 partners retire? Revealed for each firm
• What are the retirement benefits for the Big 4 partners? 

1. Deloitte

Deloitte is on top of the accounting consulting services in the Big 4 companies. People who work here (especially the partners) are quite happy with their jobs. But no matter what happens, everyone has to go (retire) at a certain age. 

They have to sadly say goodbye to Deloitte at the age of 62. (Source)

If a partner is willing to retire before this age, they are free to make your decision! 

But let me remind you! Even the saddest moments, like retirement, bring along many joys. At Deloitte, partners are offered numerous benefits to prepare them for the next big phase of their life.

For example, Deloitte helps them plan for their future with a pension scheme. It puts money into their pension based on a percentage of their salary (Partner’s salary at Deloitte is around $306,602 per year). (Source)

While working at Deloitte, a partner can choose a different investment plan if they choose to. But the basic one takes around 2% of the salary (every month) for their pension plan. (Source)

This money is invested to grow over time. As partners get closer to retiring, the investments become safer to protect their pension from any sudden changes in the economy.

And there’s more! Deloitte also offers a Wealth Accumulation Program to all employees, including partners. Thanks to this, they get to build a strong financial foundation for the future. (Source)

2. PwC (PricewaterhouseCoopers)

PwC is another giant in the Big 4 list of companies, and all the employees and partners have a great time here. 

But it all comes to a pause when the partners reach the age of 60 and have to retire. Just like Deloitte, partners can choose to say their final goodbyes even before this age. (Source)

With that being said, PwC makes sure that the partner’s journey after retirement is full of happiness and is totally worry-free. That’s why the firm goes above and beyond in providing them with excellent benefits, such as:

1. 401(k) Savings Plan

401 (k) Savings is a great plan that prepares the partners for retirement. It lets them save money before taxes, or they can choose other options like Roth and after-tax savings. 

Here’s the good part: PwC matches 25% of the first 6% of the salary that partners put into the plan. The company’s contribution gradually becomes fully yours over five years. This benefit helps them save more for a bright future.

2. Retirement Wealth Builder Plan

Retirement Wealth Builder is a fully funded retirement plan for all the employees and partners of PwC. The amount the company contributes depends on the job level and how long they have been working here. 

As five years pass, the whole contribution from PwC becomes the partners’ assets! How good is that? 

(Source)

3. EY (Ernst & Young)

EY is the only firm in the Big 4 to be on FORTUNE’s “100 Best Companies to Work For®” list for 25 continuous years. That’s a real accomplishment! (Source)

The retirement age of partners at EY is 60, and they have to transition out of the firm to lead a different life! (Source)

As partners head out of the firm, EY does its best to make their lives as easy as possible with the following perks:

The 401(k) plan offers a number of investment options, and the firm itself also contributes to them. Like PwC, EY’s contributions fully belong to partners after five years.

There’s also a pension plan at EY that helps the partners prepare for retirement. It offers many options like:

• Early retirement
• An option between a lump sum or regular payments 
• Benefits for the spouse or registered domestic partner

(Source)

A former associate partner at EY wrote on Glassdoor: “I recently retired from EY, and looking back, I can genuinely say that my time with the firm has been filled with some of the best memories of my career. One of the standout aspects of my experience was the 401(k) plan. It’s truly one of the best in the business. The firm’s contributions and the flexibility it offers in terms of investment choices made a significant impact on my financial well-being. I appreciate how EY prioritizes the financial future of its partners. Now, in my retirement, I find myself in a position of financial security, thanks in no small part to the savings. I’m grateful for the support and preparation the firm provided for this exciting new chapter.” (Source)

4. KPMG (Klynveld Peat Marwick Goerdeler)

The partners at KPMG experience all the highs and lows of the company and stick with it through thick and thin. Finally, they retire at the age of 62 (or early if they want to). (Source) 

KPMG tries its best to make the farewells easy (and not teary-eyed) by providing the partners with excellent benefits. 

The firm puts money in the 401(k) plan (ranging from 6% to 8% of the partner’s pay). The best part is that they get this contribution without having to put in their own money (Unlike other Big 4). 

KPMG even adds an extra contribution (between 6% to 8% of the earnings) if the employees have been with the company for a year. 

Of course, partners get this very easily!

What’s unique is that the partners get to decide how to invest their savings from a list of choices. (Source)

Let’s say if they are unable to decide where to invest their savings, KPMG is all ears! The firm provides an advisory feature called Merrill Advice Access. It gives personalized recommendations (based on the partner’s financial situation). 

And guess what? They don’t have to pay even a single penny for this service! (Source)

In the like, I’d like to show you a table that summarizes the mandatory retirement age of the partners at each of the Big 4 firms: