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.

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

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/