pension
n. countablen. money that a person receives regularly after they stop working because of their age. You usually pay into this fund during your working years so you have money when you retire.
n. a regular payment made during a person's retirement from an investment fund to which that person or their employer has contributed. Often used in the context of social security or private employment contracts.
He lives comfortably on his state pension.
After forty years of service at the firm, she retired with a generous private pension and a gold watch.
Economists warn that the aging population will place an unprecedented strain on the national pension system, potentially requiring a higher retirement age to maintain fiscal stability.
From Middle English pencioun, pensioun, from Anglo-Norman pencione, Old French pencion, and their source, Latin pēnsiō (“payment, weight, rent, compensation”), from the participle stem of pendō (“to weigh”).
From French pension, from Old French pencion, as etymology 1 above. Doublet of pensione.
Often used with the verbs 'draw', 'collect', or 'receive'.