Definition of pension scheme
British
: an arrangement made with an employer to pay money to an employee after retirement
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Word by Word Definitions
pension
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: a fixed sum paid regularly to a person:
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: wage
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: a gratuity granted (as by a government) as a favor or reward
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: to grant or pay a pension to
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: to dismiss or retire from service with a pension
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scheme
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: a mathematical or astronomical diagram
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: a representation of the astrological aspects of the planets at a particular time
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: a graphic sketch or outline
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: to form a scheme for
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: to form plans
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