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1. Dictionary

   pension

   /ˈpɛnʃn/

   noun

   • 1. a regular payment made by the state to people of or above the official retirement age and to some widows and disabled people: "men can draw a pension from the age of sixty-five" Similar annuitysuperannuationwelfare paymentallowancebenefitsupportwelfareassistance
   • ▪ a regular payment made during a person's retirement from an investment fund to which that person or their employer has contributed during their working life: "the company pension scheme"
   • ▪ a regular payment made to a royal favourite or to an artist or scholar to enable them to carry on work of public interest or value.

   verb

   • 1. dismiss someone from employment, typically because of age or ill health, and pay them a pension: "he was pensioned off from the army after the war"
   • ▪ discard something because it is too old or no longer wanted: "garden sheds were raided to bring out machines long since pensioned off"

   Word Origin late Middle English (in the sense ‘payment, tax, regular sum paid to retain allegiance’): from Old French, from Latin pensio(n-) ‘payment’, from pendere ‘to pay’. The current verb sense dates from the mid 19th century.

   Derivatives

   • 1. pensionless adjective

   Scrabble Points: 9

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2. dictionary.cambridge.org › dictionary › englishPENSION | English meaning - Cambridge Dictionary

   dictionary.cambridge.org › dictionary › english

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   an amount of money paid regularly by the government or a private company to a person who does not work any more because they are too old or have become ill: US a government pension. UK a state pension. He won't be able to draw (= receive) his pension until he's 65. Fewer examples.

3. www.financestrategists.com › defined-benefit-plan › pensionsWhat Is a Pension? | How It Works, Pros & Cons, Maximizing It

   www.financestrategists.com › defined-benefit-plan › pensions

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   Aug 10, 2023 · What Is a Pension? A pension plan is a favored kind of retirement plan by employees in which employers commit to paying a defined benefit or fixed amount of money upon retirement. Pension plans are a popular incentive to retain employees because of the perks of getting a steady stream of checks that lasts the length of their retirement.

4. www.investopedia.com › terms › pWhat Is a Pension? Types of Plans and Taxation - Investopedia

   www.investopedia.com › terms › p

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   May 16, 2024 · A pension plan is an employee benefit that makes regular payments to the employee in retirement. There are defined-benefit and defined-contribution pension plans.

5. www.merriam-webster.com › dictionary › pensionPension Definition & Meaning - Merriam-Webster

   www.merriam-webster.com › dictionary › pension

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   The meaning of PENSION is a fixed sum paid regularly to a person. How to use pension in a sentence.

6. www.thebalancemoney.com › what-is-a-pension-and-how-do-youWhat Is a Pension? - The Balance

   www.thebalancemoney.com › what-is-a-pension-and-how-do-you

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   Jan 25, 2022 · A pension is a retirement plan that provides a monthly income in retirement. Unlike a 401 (k), the employer bears all of the risk and responsibility for funding the plan. A pension is typically based on your years of service, compensation, and age at retirement.

7. www.forbes.com › advisor › retirementWhat Is A Pension? – Forbes Advisor

   www.forbes.com › advisor › retirement

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   May 24, 2023 · A traditional pension is what’s known as a defined benefit plan. As their name suggests, these plans provide retired employees with a specified, or “defined,” monthly benefit that is ...

8. dictionary.cambridge.org › us › dictionaryPENSION | definition in the Cambridge English Dictionary

   dictionary.cambridge.org › us › dictionary

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   PENSION meaning: 1. an amount of money paid regularly by the government or a private company to a person who does…. Learn more.