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English definition of “retirement annuity”

retirement annuity

noun [C]     INSURANCE, FINANCE
an arrangement with an insurance company in which a fixed amount of money is paid to someone every year after they stop working : Choosing the right retirement annuity can be as important a decision as buying a new home . a retirement annuity contract
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(Definition of retirement annuity noun from the Cambridge Business English Dictionary © Cambridge University Press)
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