The neologism pre-tirement describes the emergence of a new working state, positioned between the traditional states of employment and retirement.
The word is a portmanteau word, coming from the prefix "pre" and the word "retirement."[citation needed] The state is being found primarily in first world economies, with aging populations. A "pre-tiree" will continue to create economic wealth and/or contribute to the generation of knowledge, likely on a part-time or reduced hours basis. Some "pre-tirees" use the period to give back by providing unpaid social support. This form of unpaid work creates economic benefit, by allowing taxes to be focused on other wealth creating or protecting activities but relies on the existence of sufficient financial resource.