Cool MatePension
UK //ˈpɛnʃən//US //ˈpɛnʃən//
Definition
A regular payment made during retirement from an investment fund.
In simple words: Money paid regularly after retirement
Examples
- He will receive a pension after working 30 years for the company.
- Many people rely on their pension to support them in old age.
- They have just updated their pension plan to include better benefits.
- It's important to start saving for your pension as early as possible.
- The government offers various schemes to help individuals fund their pension.
- Her pension is assisting her in living comfortably after retirement.
Usage notes
Typically used in financial contexts. Avoid in casual conversations unless relevant to the discussion about retirement or finances.
Grammar pattern
pension + object
Memory hint
Think of 'pension' as 'penny for your golden years'—money saved for retirement.
Collocations
- retirement pension
- pension plan
- state pension
- pension contributions
Synonyms
- retirement fund
- annuity
- superannuation
- stipend
Antonyms
- debt
- liability
Common mistakes
- Confusing 'pension' with 'insurance', which serves a different purpose.
- Using 'pension' in the plural when referring to one retirement plan.