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Meaning of “retirement pension” in the English Dictionary

"retirement pension" in Business English

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retirement pensionnoun [C]

uk   us   HR, FINANCE
a ​pensionpaid to someone when they ​stopworking: The ​averagelevel of ​retirementpensions is ​low compared with ​averageearnings. Angus is a ​member of the company's ​pensionplan, which ​pays him a ​retirementpensionbased on his ​finalsalary.
(Definition of retirement pension from the Cambridge Business English Dictionary © Cambridge University Press)
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