pension
/'penʃn/
Definition
Noun:
- A regular payment made by a government or company to a person who is retired from work: This is the primary meaning, referring to a fixed sum paid regularly, typically after retirement, to provide income.
- A regular payment made to a person as a form of support: This can extend to payments for disability or other qualifying circumstances, allowing the recipient to subsist without regular employment.
Verb:
- To grant or pay a pension to someone: The action of providing someone with a pension.
- To dismiss someone from service with a pension: Often used in the context of retirement or early release from a job with a pension benefit.
Usage Examples
Noun:
- She receives a monthly pension after working for the company for 30 years.
- The government increased the state pension for all retirees.
- He lives on a modest pension from his military service.
Verb:
- The company agreed to pension him off at the age of 60.
- After his injury, he was pensioned by the force.
Advanced Usage
"to be on a pension": to receive a pension as one's primary income.
- My grandparents are comfortably on a pension now.
"pension plan" / "pension scheme": an arrangement (often through an employer) to provide a pension in the future.
- Employees are automatically enrolled in the company pension scheme.
"pension fund": a pool of money that is invested to pay pension benefits.
- The pension fund's performance affects future payouts.
Variants and Related Words
Pensioner (n): A person who receives a pension, especially a retirement pension.
- The discount is available for senior citizens and pensioners.
Pensionable (adj): Entitling someone to or qualifying for a pension.
- He completed 20 years of pensionable service.
Synonyms
- Annuity: A fixed sum of money paid to someone each year, typically for the rest of their life.
- Superannuation: A pension paid to a retired person, often from a fund to which they have contributed.
Related Phrasal Verbs
- Pension off: To retire someone and pay them a pension; sometimes implies forcing someone to retire.
- The old machinery was finally pensioned off. (Used metaphorically for objects)
- They pensioned off several long-serving employees.
Related Idioms
- Golden handshake: A large sum of money given to someone when they leave a company, often similar to a severance package, which can be related to early pension arrangements.
- He left the firm with a generous golden handshake.
Noun
-
a regular payment to a person that is intended to allow them to subsist without working
Verb
-
grant a pension to
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