Meaning of “pensionable” in the English Dictionary

"pensionable" in Business English

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/ˈpenʃənəbl̩/ uk us UK

used to refer to someone's age, job, health, etc. when they are given the right to receive a pension:

of pensionable age The survey reveals that 35% of employers are actively hiring people who are already of pensionable age.
pensionable job/employment She has only had 15 years of pensionable employment, so is drawing a modest pension of only £3,300.

pensionable pay, salary, etc. is the amount of money someone earns that is used to calculate the pension they will receive:

Voluntary contributions to the scheme must not exceed 15% of pensionable earnings.

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