Many companies have a policy that states employees have to retire after a certain age. We can calculate this retirement date from the birth date. To do this, we need to use the EDATE and YEARFRAC functions in Excel. In this tutorial, we will learn how to calculate retirement date from birth date.

*Figure 1. Example of How to Calculate Retirement Date*

**Generic Formula**

**=EDATE (birth_date,12*retirement_age)**

**How this Formula Works**

The EDATE function takes a date, adds a certain number of months to it and returns the result as a serial date. This formula takes the birth_date and retirement_age as the arguments for EDATE. To add the months with this date, we need to add the retirement age times 12 months.

The following data set contains an employee information data set. Column A, B and C has the employee names, IDs and birth dates.

* Figure 2. The Sample Data Set*

For this example, we will consider the retirement date to 65. To calculate the retirement dates in column D:

- We need to select cell
**D2**. - Assign the formula

to D2.**=EDATE (C2,12*65)** - Press
**Enter**.

* Figure 3. Applying the Formula to the Data*

This will show the retirement date in cell D2. Finally, dragging the formula from cells **D2 to D6** will make column D show the dates.

**Calculating the Years Left till Retirement**

We can also calculate the years remaining from the previous formula. To calculate the years remaining in Column E:

- Go to cell
**E2**. - Assign the formula

to cell E2.**=YEARFRAC(TODAY(),D2)** - Press
**Enter**to apply the formula to E2.

* Figure 4. Calculating the Years Remaining*

Next, we need to drag the formula from cells **E2 to E6. **We can do this dragging the fill handle in the bottom right. Now, column E will show the years remaining to retire.

**Notes**

- You can only find the year of retirement by slightly modifying the formula. To do that you can simply nest the previous formula in a YEAR function,
**=YEAR(EDATE(C2,12*65))**.

*Figure 5. Calculating the Retirement Date Only*

Most of the time, the problem you will need to solve will be more complex than a simple application of a formula or function. If you want to save hours of research and frustration, try our live Excelchat service! Our Excel Experts are available 24/7 to answer any Excel question you may have. We guarantee a connection within 30 seconds and a customized solution within 20 minutes.

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