Main definitions of pension in US English:

: pension1pension2

pension1

noun

  • 1A regular payment made during a person's retirement from an investment fund to which that person or their employer has contributed during their working life.

    • ‘When asked whether compulsory pensions should be funded by workers or employers, people naturally agreed that their employers should pay.’
    • ‘All of this is true regardless of what the pension age is and, indeed, regardless of whether the employer offers a company pension scheme.’
    • ‘However, there is no cap on how much your employer can contribute to your pension in a tax year.’
    • ‘The fund will be bankrolled by levies on employers offering occupational pension schemes.’
    • ‘In public service pension schemes the pensions of those in retirement increase with the pay of their working colleagues.’
    • ‘Employers who do not operate a pension scheme or employees who are not eligible for a company scheme are the main targets.’
    • ‘If an employer shuts a pension scheme today it still has to pay the benefits promised by that scheme for decades.’
    • ‘Your duty is merely to offer access to a pension scheme, but employees do not have to take up your offer.’
    • ‘A company can get a deduction for contributions made to the pension scheme of its directors and employees.’
    • ‘He also has a personal pension and has created a pension scheme for employees, including his son, Adam.’
    • ‘If there is a solution to the pensions crisis that stops short of recommending compulsion, it will clearly involve employers and company pensions schemes.’
    • ‘The average employer contribution to salary-based pensions is 11 percent of wages.’
    • ‘It is not possible to transfer money from a personal pension into an occupational pension scheme if you join one later.’
    • ‘Would I be better off if my company had a defined contribution pension scheme?’
    • ‘I've worked in a software company for five and a half years and contributed to its pension scheme for over five years.’
    • ‘Regular contributions to a pension scheme were, we were told, a guarantee of a secure old age.’
    • ‘Ideally, if your employer operates a company pension scheme, you should join it.’
    • ‘Most pension schemes will allow employees to continue working with the agreement of their employer.’
    • ‘When the employee leaves an employment he can continue to contribute to the pension in his next employment.’
    • ‘He said workers have not benefited from their pension and retirement funds.’
    1. 1.1 A regular payment made by the government to people of or above the official retirement age and to some widows and disabled people.
      • ‘The replacement rate is the ratio between the state pension and average earnings.’
      • ‘One of their big concerns is what this movement means for their state pension.’
      • ‘You've got to have a safety net as the state pension is not enough to live on.’
      • ‘Some countries will not be able to provide a state pension at all in the future and those that do will be providing less in real terms.’
      • ‘Essentially it makes sure that every working person has some form of pension, on top of the basic state pension.’
      • ‘In addition, the rules which bar people collecting a state pension while being at work are to be relaxed.’
      • ‘These deal with enquiries and claims for pension credit, the state pension and winter fuel allowance.’
      • ‘You can get the money with your state pension, at a post office or into your personal bank account.’
      • ‘The state pension is just not going to be enough to support most people's retirement spending needs and wants.’
      • ‘Where people choose to take their state pension later, they deserve a better deal.’
      • ‘A higher state pension and an end to means-testing isn't too much to ask for after a lifetime's work, is it?’
      • ‘This promises all pensioners a basic weekly income above the state pension.’
      • ‘Many get a huge shock when they discover on the eve of their retirement that they are only entitled to a derisory state pension.’
      • ‘I have not received an invitation to claim a state pension from the Pensions Service.’
      • ‘The report highlights the fact that many people are relying on the state pension for their retirement income.’
      • ‘The state pension is the bedrock of most people's retirement provision.’
      • ‘Linking the state pension to earnings would not be sustainable in the long-term.’
      • ‘Hoping the government will provide a decent state pension is a mistake.’
      • ‘This is far more than pensioners would have received if the earnings link to the state pension had been restored, it says.’
      • ‘Firstly, all those approaching pension age should be aware that payment of the state pension is not automatic.’
      annuity, superannuation
      welfare payment, allowance, benefit, support, welfare, assistance
      View synonyms
    2. 1.2historical A regular payment made to a royal favorite or to an artist or scholar to enable them to carry on work that is of public interest or value.

verb

[with object]pension someone off
  • Dismiss someone from employment, typically because of age or ill health, and pay them a pension.

    ‘he was pensioned off from the army at the end of the war’
    • ‘Hardly a cheering vote of confidence, but again he survived, returned to England where he was pensioned off on half pay.’
    • ‘A police officer who has testicular cancer has been told to return to work, even though it would cost the taxpayer less to pension him off.’
    • ‘At the age of 50, when it had got to the point where pain and mobility problems affected my ability to do my job, I was pensioned off and sent away into early retirement.’
    • ‘The duke and duchess will be very glad to pension you off, for they've been worried about your health as well.’
    • ‘I was the best in the woodwork department so when I was 15 they pensioned me off and said, you've got to become a cabinet maker.’

Origin

Late Middle English (in the sense ‘payment, tax, regular sum paid to retain allegiance’): from Old French, from Latin pensio(n-) ‘payment’, from pendere ‘to pay’. The current verb sense dates from the mid 19th century.

Pronunciation

pension

/ˈpenSHən//ˈpɛnʃən/

Main definitions of pension in US English:

: pension1pension2

pension2

noun

  • A boarding house in France and other European countries, providing full or partial board at a fixed rate.

    • ‘Of course, it's a typical beautiful Austrian small town with lots of pensions, hotels and restaurants for the traveler.’
    • ‘In one end of the hall, volunteers entered name after name into computers - people who had been located in nearby hotels or pensions.’

Origin

French.

Pronunciation

pension

/ˌpɑnsiˈɑn//ˌpänsēˈän/