pension

Definition

An annuity paid regularly as benefit due to a retired employee, serviceman etc. in consideration of past services, originally and chiefly by a government but also by various private pension schemes.

Etymology

From Middle English pencioun, pensioun, from Anglo-Norman pencione, Old French pencion, and their source, Latin pēnsiō (“payment, weight, rent, compensation”), from the participle stem of pendō (“to weigh”).

Example Sentences

• "Many old people depend on their pension to pay the bills."