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English definition of “pension”

pension

noun [C] uk   /ˈpen.ʃən/ us  
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 they have become ill: They find it hard to live on their state pension. He won't be able to draw (= receive) his pension until he's 65.
(Definition of pension from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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