noun / verb
pension
PEN-shun/ˈpenʃn/
Regular retirement payments provided by an employer or government.
The retired worker receives regular pension payments.
Etymology
Latin pendere linked weighing with paying. A pension narrowed from a payment for services to a regular payment for past service, especially after retirement.
In context
really about you know as we've said repeatedly superannuation is designed to help people save for retirement so as to lower the cost on the the government of the age pension
More examples
- The company pensioned off several longtime employees.
- He receives a small pension each month.
- The fund manages pensions for retired teachers.
Forms
pension · pensions · pensioned · pensioning
pensioner noun — someone receiving a pension
Similar words
- annuity
- A regular payment arrangement not necessarily tied to employment.
- retirement benefit
- A broader benefit that can include a pension.