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- Dictionarypension/ˈpɛnʃn/
noun
- 1. a regular payment made by the state to people of or above the official retirement age and to some widows and disabled people: "men can draw a pension from the age of sixty-five" Similar
verb
- 1. dismiss someone from employment, typically because of age or ill health, and pay them a pension: "he was pensioned off from the army after the war"
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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: US a government pension. UK a state pension. He won't be able to draw (= receive) his pension until he's 65. Fewer examples.
Defined contribution pensions, by definition, are funded, as the "guarantee" made to employees is that specified (defined) contributions will be made during an individual's working life. There are many ways to finance a pension and save for retirement.
Pension, a financial safety net for retirement, refers to regular income provision earned during working years. Vital for financial well-being post-employment, pension plans offer security and stability. Taxation plays a pivotal role in pension planning, influencing contributions, withdrawals, and overall financial outcomes.
Jan 25, 2022 · Definition. A pension is a retirement plan that provides a monthly income. The employer bears the risk and responsibility for funding the plan. Learn more about how pensions work.
May 16, 2024 · A pension plan is an employee benefit that makes regular payments to the employee in retirement. There are defined-benefit and defined-contribution pension plans.
Aug 10, 2023 · What Is a Pension? A pension plan is a favored kind of retirement plan by employees in which employers commit to paying a defined benefit or fixed amount of money upon retirement. Pension plans are a popular incentive to retain employees because of the perks of getting a steady stream of checks that lasts the length of their retirement.
May 24, 2023 · A pension is a benefit that some employers provide to their employees. If an employer offers a pension, they commit to making contributions to fund payments to their employees in...
an amount of money paid regularly by the government or a private company to a person who does not work anymore because they are too old or have become sick: US a government pension. UK a state pension. He won't be able to draw (= receive) his pension until he's 65. Fewer examples.
1. ˈpen (t)-shən : a fixed sum paid regularly to a person: archaic : wage. b. : a gratuity granted (as by a government) as a favor or reward. c. : one paid under given conditions to a person following retirement from service or to surviving dependents. 2. \ päⁿ- ˈsyōⁿ \ [French, from Middle French] a.
Jun 19, 2024 · Pensions. If you're retiring with a pension you have a unique set of decisions to make, including when to take your benefits, how they'll affect your spouse, and how to plan for taxes. You'll...
