old-age insurance

Thân thiện

A woman receives her old-age insurance check in the mail.

Definition

Noun: A type of insurance that provides regular payments to individuals after they reach a certain age, typically upon retirement. It is a form of financial security designed to support people in their later years.

Usage

This term is used to describe a specific social or financial program. It functions as a compound noun. * The government reformed the national old-age insurance system. * Contributions to old-age insurance are often deducted from wages during a person's working life.

Advanced Usage

• The term is often used in discussions of social welfare policy, pension systems, and retirement planning.
• It can be part of a broader phrase like "old-age insurance benefits" or "old-age insurance fund."

Variants and Related Words

• Pension: A regular payment made during retirement from an investment fund to which the person or their employer has contributed.
• Social Security: (In specific contexts, like the United States) A federal program that includes old-age insurance, survivors' insurance, and disability insurance.
• Retirement Insurance: A very similar term, sometimes used interchangeably.

Synonyms

• Retirement pension
• Old-age pension
• Superannuation (common in British English and Australian English contexts)

Related Phrases

• Old-age insurance benefits: The specific payments received from the insurance.
• Old-age insurance contribution: A payment made into the insurance fund.

Học thuật

Noun

1. insurance paid to the elderly