pension
word
Definition
A pension is money paid regularly by the government or a company to someone who has stopped working because of age or disability. In some countries, 'pension' can also refer to a type of small hotel, but in this context, it is about retirement income.
Usage & Nuances
Commonly used in financial, government, and workplace contexts. Phrases: 'draw/receive a pension', 'state pension', 'private pension', 'pension plan'. Do not confuse with 'paycheck' or 'salary' (ongoing work income). In Europe, 'pension' may also mean a budget hotel; this is less common in the US.
Example Sentences
My grandfather receives a pension every month.
basic
You need to work for many years to get a pension.
basic
The company offers a good pension plan to employees.
basic
She’s been living off her pension since she retired last year.
natural
Do you know how to apply for your state pension?
natural
Most people start planning their pension in their thirties or forties.
natural