Definition

Noun: A structured plan or system designed for an individual to save and invest money during their working years, with the specific purpose of providing income after they stop working (retire).

Usage

This term refers specifically to the financial arrangement itself. It is a countable noun.

Examples

• The company offers a generous retirement program with matching contributions.
• It is important to start contributing to a retirement program early in your career.
• She reviewed the details of her retirement program with a financial advisor.

Advanced Usage

• The term is often used in institutional or corporate contexts to describe employer-sponsored plans.
• "Enroll in a retirement program": To formally join and begin participating in such a plan.
  • New employees are encouraged to enroll in the retirement program immediately.

Variants and Related Words

• Retirement plan (n): A very common synonym with identical meaning.
• Pension plan (n): A specific type of retirement program that promises a defined benefit payout.
• Savings plan (n): A broader term that can include, but is not limited to, retirement savings.

Synonyms

• Pension scheme
• Superannuation plan (common in Australian and UK English)
• Retirement savings plan

Related Phrases

• Company retirement program: Specifies an employer-sponsored plan.
  • The company retirement program is a key part of the benefits package.
• Individual retirement program: A plan set up by an individual, not tied to an employer.

Noun

1. a plan for setting aside money to be spent after retirement