What is pension?

  • (verb): Grant a pension to.
    Synonyms: pension off
    See also — Additional definitions below


A pension is a contract for a fixed sum to be paid regularly to a person, typically following retirement from service. Pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum.

Read more about Pension.

Some articles on pension:

Obtaining Survey Data On Pensions
... Numerous worldwide health, aging and retirement surveys contain questions pertaining to pensions ... The Meta Data Repository - created by the non-profit RAND Corporation and sponsored by the National Institute on Aging at the National Institutes of Health - provides access to meta data for these questions as well as links to obtain respondent data from the originating surveys ...
List Of Tribunals In The United Kingdom - Pensions - Board of The Pension Protection Fund
... The Board of the Pension Protection Fund considers applications for compensation to occupational pension schemes, with insolvent employers, that suffer ...
Congressional Pension
... Congressional pension is a pension made available to members of the United States Congress ... Members who participated in the congressional pension system are vested after five (5) years of service ... A full pension is available to Members 62 years of age with 5 years of service 50 years or older with 20 years of service or 25 years of service at any age ...
List Of Tribunals In The United Kingdom - Pensions - Pensions Ombudsman and Pension Protection Fund Ombudsman
... The Pensions Ombudsman makes binding determinations on complaints concerning occupational and personal pension schemes ... The Pension Protection Fund Ombudsman can review certain decisions of the Pension Protection Fund and also deals with appeals from decisions of the ...
Small Self Administered Scheme - Benefit Rules
... The pension benefits payable include a tax free cash sum from age 50/55 plus a pension income paid from the pension scheme ...

More definitions of "pension":

  • (noun): A regular payment to a person that iis intended to allow them to subsist without working.

Famous quotes containing the word pension:

    It is a sort of ranger service. Arnold’s expedition is a daily experience with these settlers. They can prove that they were out at almost any time; and I think that all the first generation of them deserve a pension more than any that went to the Mexican war.
    Henry David Thoreau (1817–1862)

    “Wotever is, is right, as the young nobleman sveetly remarked wen they put him down in the pension list ‘cos his mother’s uncle’s vife’s grandfather vunce lit the king’s pipe vith a portable tinder-box.”
    Charles Dickens (1812–1870)