Pension
Noun
UK
/ˈpen.ʃən/
US
/ˈpen.ʃən/
Definition
Regular money paid to someone after they stop working, especially due to age.
Example
"He depends on his pension for monthly expenses."
"Many people plan their future carefully to have a stable pension."
"A pension provides financial support to people after they retire from work."
Explanation
A pension is money that a person receives regularly after they stop working, usually because of old age. This money is paid again and again at fixed times, most often every month, and sometimes weekly. It helps people pay for daily needs when they no longer earn a salary. Some pensions are paid by the government, while others come from a person’s job or personal savings. A pension provides financial support so older people can live with security and independence.