English · Work & Business
pension
/ˈpen.ʃən/
[/ˈpen.ʃən/]
retirement income
Intermediatenoun
Definition
A regular payment made to a person after they retire from work, usually based on years of service.
Example
After forty years at the company, he retired and now lives comfortably on his pension.
After forty years at the company, he retired and now lives comfortably on his pension.
Etymology
From Latin 'pensio' (a payment), from 'pendere' (to pay, weigh).
How & Where It’s Used
Used in employment, finance, and retirement planning.