pension
/ˈpɛnʃən/
verb
- To pay someone a pension, or to force someone to retire and start receiving a pension.
- He was pensioned at the age of 65 after a long career.
- The company decided to pension off several older employees to cut costs.
- The factory pensioned its workers when it closed down.
noun
- A regular payment made by a government or a company to someone who has retired from work.
- He started saving for his pension when he was 30 years old.
- After working for 40 years, she receives a monthly pension from the company.
- Many older people rely on their pension to pay for food and housing.
- A sum of money paid regularly to a person, typically by the government, because of a disability, old age, or the death of a family member.
- After her husband passed away, she was eligible for a survivor's pension.
- The government increased the old-age pension to help with rising costs.
- The veteran receives a disability pension for his service injuries.