an amount of money paid regularly by the government or a private company to a person who does not work any more because they are too old or have become ill
The Chancellor announced a miserly 75p a week rise in the state pension
He retired on a generous pension from the company
After decades of service, employees receive a pension to support them in retirement.
Governments aim to ensure that pension systems provide financial security for the elderly.
Pension funds are managed to ensure sustainable support for retirees.
