Meaning of “pension” in the English Dictionary

business-english dictionary

"pension" in British English

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pensionnoun [ C ]

uk /ˈpen.ʃən/ us /ˈpen.ʃən/

B2 an amount of money paid regularly by the government or a private company to a person who does not work any more because they are too old or have become ill:

US a government pension
UK a state pension.
He won't be able to draw (= receive) his pension until he's 65.

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(Definition of “pension” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"pension" in American English

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pensionnoun [ C ]

us /ˈpen·ʃən/

a sum of money paid regularly to a person who has retired (= stopped working because of having reached a certain age)

(Definition of “pension” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"pension" in Business English

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pensionnoun [ C ]

uk /ˈpenʃən/ us

a regular income paid by a government or a financial organization to someone who no longer works, usually because of their age or health:

comfortable/decent/generous pension They receive a generous pension, typically 75% of last pay drawn.
pension plan/scheme Her new job offers a company pension scheme.
Any pension contributions you pay into your plan qualify for tax relief.
According to the report, CEOs received an average of $1.3 million in pension benefits last year.
final-salary/index-linked pension If you want an index-linked pension, which will rise in line with inflation, you will get less to start with.
draw/pay/receive a pension
a full/small pension

(Definition of “pension” from the Cambridge Business English Dictionary © Cambridge University Press)