Pension

/ˈpɛnʃən/

Meaning & Definition

noun

A regular payment made by the government or a private company to a person after they have retired from work.

After many years of service, she is finally eligible to receive her pension.

A sum of money paid regularly to a person, typically following retirement from employment, to support their living expenses.

He relies on his pension to cover his basic living costs.

A fund from which pensions are paid.

The company has increased its contributions to the pension fund to ensure its stability.

French 'pension', from Latin 'pensionem', meaning 'payment' or 'lease'.

pension plan

A financial scheme that provides individuals with income after retirement.

pension fund

A pool of assets forming an investment for pension benefits.

state pension

Government-funded pension paid to citizens upon reaching retirement age.

annuities

Financial products that provide fixed payments at regular intervals.

retirement

The period in a person's life after they have stopped working.

beneficiary

A person entitled to receive benefits from a particular source.

Golden years money

He's counting on his golden years money to enjoy retirement.

Retirement check

She can't wait for her retirement check to start coming in.