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- Dictionarypension/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
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"
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The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual; [2] the terminology varies between countries. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions.
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.
The meaning of PENSION is a fixed sum paid regularly to a person. How to use pension in a sentence.
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.
an amount of money paid regularly by the government or a private company to a person who does not work anymore because they are too old or have become sick: US a government pension. UK a state pension. He won't be able to draw (= receive) his pension until he's 65. Fewer examples.
Jan 25, 2022 · Definition. A pension is a retirement plan that provides a monthly income. The employer bears the risk and responsibility for funding the plan. Learn more about how pensions work.
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 ...
Pension definition: a fixed amount, other than wages, paid at regular intervals to a person or to the person's surviving dependents in consideration of past services, age, merit, poverty, injury or loss sustained, etc.. See examples of PENSION used in a sentence.
Jun 19, 2024 · How do pensions work? The most common type of pension plan is a defined benefit plan. Under that type, after an employee with a pension retires, they receive monthly benefits from the plan...
money that is paid regularly by the government or a private company to a person who has stopped working because they are old or sick: a state / private pension. a pension plan / scheme.
