pension

5 ENTRIES FOUND:

1pen·sion

noun \ˈpen(t)-shən\

: an amount of money that a company or the government pays to a person who is old or sick and no longer works

Full Definition of PENSION

1
\ˈpen(t)-shən\ :  a fixed sum paid regularly to a person:
a archaic :  wage
b :  a gratuity granted (as by a government) as a favor or reward
c :  one paid under given conditions to a person following retirement from service or to surviving dependents
2
\päⁿs-ˈyōⁿ\ [French, from Middle French]
a :  accommodations especially at a continental European hotel or boardinghouse :  room and board
b also pen·sio·ne \pen(t)-ˈsyō-(ˌ)nā\ [pensione, from Italian] :  a hotel or boardinghouse especially in continental Europe
pen·sion·less \ˈpen(t)-shən-ləs\ adjective

Examples of PENSION

  1. Her pension arrives in the mail every month.
  2. retired people living on their pensions

Origin of PENSION

Middle English, from Anglo-French, from Latin pension-, pensio, from pendere to pay — more at pendant
First Known Use: 14th century

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

2pension

verb
pen·sionedpen·sion·ing \ˈpen(t)-sh(ə-)niŋ\

Definition of PENSION

transitive verb
1
:  to grant or pay a pension to
2
:  to dismiss or retire from service with a pension <pensioned off his faithful old servant>

First Known Use of PENSION

1702

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

Rhymes with PENSION

pension

noun    (Concise Encyclopedia)

Series of periodic money payments made to a person who retires from employment because of age, disability, or the completion of an agreed span of service. The payments generally continue for the rest of the recipient's natural life, and they are sometimes extended to a widow or other survivor. Military pensions have existed for many centuries; private pension plans originated in Europe in the 19th century. There are two basic types of pension plans: defined contribution and defined benefit. A defined contribution plan invests a defined amount each pay period. The individual may have some discretion as to how the money is invested. The benefit, the amount of the pension, depends on the success of those investments. A defined benefit plan pays a known amount according to some formula, but the amount invested in the fund may vary. Pensions may be funded by making payments into a pension trust fund or by the purchase of annuities from insurance companies. In plans known as multiemployer plans, various employers contribute to one central trust fund administered by a joint board of trustees.

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