Pension

What is Pension ?

Pension is (noun) money paid regularly, e.g. to someone who has retired from work, or to a widow He has a good pension from his firm. She finds a teacher’s pension quite enough to live on. (verb) to pension someone off to make someone stop working and live on a pension They pensioned him off at the age of 55.

 

source: Easier English, Student Dictionary Upper Intermediate Level