South Sydney officials confirmed Inglis walked away from a reported $1.5 million left on his deal after calling time on his decorated career on Monday.

It is a major sacrifice from the 32-year-old, who hangs up the boots despite having a playing contract until the end of the 2020 season.

"A contract's a contract. You get your pay cheque tomorrow, next month, at the end of the year... it is what it is," Inglis said about the financial implications on Monday.

"Money doesn't make you happy; it's people around you that make you happy."

It is a belief the former Kangaroos and Queensland star has always lived by.

"I believe our players should be paid what they deserve, and they go about it by the way they play. That's how you put a price tag on (them) playing-wise," he said.

"But no, I'm not money driven. There's people around that make you happy. It's not the money that makes you happy."

While Inglis' salary comes off the salary cap, he will remain an employee of the club in a variety of roles including the football department and community work.

Rabbitohs general manager Shane Richardson revealed Inglis has already been a part of a number of retention and recruitment meetings over the past two years.

He is also expected to play a bigger role in their Souths Cares program, however the official transition has yet to be ticked off by the NRL.

"Greg Inglis has got 25 more years minimum of work in this great game of ours. I don't think we should underestimate what he's done in the past or what he will do in the future," Richardson said.

"We sat down this week with Todd and the NRL so we know exactly where we're standing."

"He's a fairly handy person to have sitting across the table from families and tell them what career they should have with South Sydney. That's the beauty of Greg Inglis and we intend to make sure he stays with us as long as he wants to be."

Australian Associated Press