pension
//ˈpɛnʃən//
Noun
pensionSingular
pensionsPlural
1
A regular payment made to a person who has retired from work, typically paid by a former employer or the government.
She receives a pension from her former employer every month.
2
A regular payment made to a person as compensation for injury, loss, or disability.
He receives a pension for his war injuries.
Verb
1
To grant or pay a pension to someone.
The company will pension all employees who retire at 65.
2
To dismiss or force someone to retire, typically with a pension.
The company pensioned off several older employees last year.