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English definition of “pension”

pension

noun [C]     /ˈpenʃən/
B2 money that is paid regularly by the government or a private company to a person who has stopped working because they are old or sick : a state / private pension a pension plan / scheme Earning money and money earnedGrants and allowances
pensioner noun [C] mainly UK someone who receives a pension → See also old-age pension, old-age pensionerThe elderlyOld or old-fashionedDescribing people who are old
(Definition of pension noun from the Cambridge Learner's Dictionary © Cambridge University Press)

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