retirement benefit
Học thuậtThân thiện
Definition
Noun: A regular payment, typically made each month, that is provided to a person who has stopped working due to having reached a certain age or after a long period of service.
Usage
This term is used to describe the financial support system for retired individuals. It is a formal and standard term in contexts like finance, human resources, and government policy. - It is a countable noun (e.g., a retirement benefit, retirement benefits). - It often refers to payments from pension plans, government programs, or employer-sponsored funds.
Examples
Advanced Usage
- Qualified vs. Non-Qualified Plans: In finance, a "retirement benefit" can be classified based on the tax status of the plan providing it.
- Vesting: The right to receive a full retirement benefit often depends on a schedule with an employer.
Variants and Related Words
- Pension: A specific type of retirement benefit, typically a fixed sum paid regularly, often by a former employer or a government scheme.
- Annuity: A financial product that provides a stream of payments, often used to fund retirement benefits.
- 401(k)/Superannuation: Specific named plans or accounts that provide retirement benefits.
Synonyms
- Pension
- Superannuation (common in UK, Australia, NZ)
- Old-age pension
Related Phrases
- Retirement plan: The overall strategy or account for saving for retirement, which provides the benefit.
- Benefit package: The complete set of benefits offered by an employer, which may include retirement benefits.
Noun
- a monthly payment made to someone who is retired from work