No - there might be a farewell function (afternoon tea) at the person's work and if the person is high up in a company (e.g. director) or has been there an extraordinarily long time (40 years) then there might be a function separate from regular work hours. Apart from that, half the time we half expect the retiree to come back as a part-time consultant (particularly if an engineer - we can't help ourselves it seems).
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