It probably also depends on the books, or more specifically the writer's idea. I for one cannot imagine any Guard regiment being shipped back home as it sounds .. awfully "humane" for this setting, considering that some interpretations of the setting would make it sound like a waste of resources to provide a transport ship just to ferry a couple hundred or couple thousand (depending on how many survivors there are) no-names across the galaxy.just to be nice, especially if these veterans can further serve the Emperor by becoming settlers.
In the Guard codex at least, it sounded like colonisation being a fixture in a Guard regiment's lifetime .. a question of "when" rather than "if". Of course, the "when" may also be suspended indefinitely depending on the current military situation, so it may well be never if the regiment gets destroyed first before someone remembers they ought to be retired. That's Imperial bureaucracy for ya.
The one exception I remember from those books are the Cadians, who get rotated between the Interior Guard (planetary defence) and the Shock Troops (expeditionary forces). In this case, the Guardsmen's potential return is "justified" as a means of stocking up the PDF with experienced and battle-hardened veterans, just like assignments between both types of forces are based on randomness rather than aptitude to ensure equal ability in both, given the critical importance of holding the so-called Gateway World.