noun a regular payment made during a person's retirement from an investment fund to which that person or their employer has contributed during their working life
In the finance field, a pension is a fund into which a sum of money is added during an employee's employment years, and from which payments are drawn to support the person's retirement from work in the form of periodic payments.
In the government sector, pensions are often provided to retired civil servants as a form of post-employment benefit.
In economics, pensions are considered a form of social insurance to provide income to individuals in retirement.
In the insurance industry, pension plans are often offered as products to individuals or organizations looking to secure their financial future post-retirement.
In human resources, a pension is a key component of employee benefits, providing financial security for employees after they retire from the organization.
A writer may receive a pension from a previous employer or from a writers' union as part of their retirement benefits.
Psychologists who work in government or academic settings may be eligible for a pension plan as part of their employment benefits.
Teachers often receive a pension as part of their retirement package after many years of service in the education field.
Police officers typically have access to a pension plan through their law enforcement agency to provide for retirement benefits after years of service.
Firefighters may receive a pension as part of their compensation package to support them in retirement after years of service in the fire department.