Etymology : Middle English, from Middle French, from Latin pension-, pensio, from pendere to pay; more at PENDANT
Pronunciation : 'pen(t)-sh&n
Function : noun
Date : 14th century
1. financial benefit paid after a person has stopped working; boarding house; allowance, stipend. grant a pension, give a regular payment to someone who cannot work due to old age or disability. pension\pen"sion\, v. t. [imp. & p. p. pensioned ; p. pr. & vb. n. pensioning.] to grant a pension to; to pay a regular stipend to; in consideration of service already performed; -- sometimes followed by off; as, to pension off a servant. one knighted blackmore, and one pensioned quarles.pension \pen"sion\ , n. [f., fr. l. pensio a paying, payment, fr. pendere, pensum, to weight, to pay; akin to pend re to hang. see:
pendant, and cf. spend.].
2. a payment; a tribute; something paid or given. [obs.] the stomach's pension, and the time's expense.
3. a stated allowance to a person in consideration of past services; payment made to one retired from service, on account of age, disability, or other cause; especially, a regular stipend paid by a government to retired public officers, disabled soldiers, the families of soldiers killed in service, or to meritorious authors, or the like. to all that kept the city pensions and wages. --1 esd. iv.
4. 3. a certain sum of money paid to a clergyman in lieu of tithes. [eng.] .
5. [f., pronounced .] a boarding house or boarding school in france, belgium, switzerland, etc.pension a monthly payment to someone who is retired from work [syn: retirement check, retirement benefit, retirement fund ] grant a pension to [syn: pension off].
6. A payment; a tribute; something paid or given.
7. A stated allowance to a person in consideration of past services; payment made to one retired from service, on account of age, disability, or other cause; especially, a regular stipend paid by a government to retired public officers, disabled soldiers, the families of soldiers killed in service, or to meritorious authors, or the like.
8. A certain sum of money paid to a clergyman in lieu of tithes.
9. A boarding house or boarding school in France, Belgium, Switzerland, etc.
10. To grant a pension to; to pay a regular stipend to; in consideration of service already performed; sometimes followed by off; as, to pension off a servant. a regular payment to a person that iis intended to allow them to subsist without working.
11. Someone who has a pension receives a regular sum of money from the state or from a former employer because they have retired or because they are widowed or disabled. struggling by on a pension. a company pension scheme. an amount of money paid regularly by the government or company to someone who does not work any more, for example because they have reached the age when people stop working or because they are ill. Series of periodic money payments made to a person who retires from employment because of age, disability, or the completion of an agreed span of service. The payments generally continue for the rest of the recipient's natural life, and they are sometimes extended to a widow or other survivor. Military pensions have existed for many centuries; private pension plans originated in Europe in the 19th century. There are two basic types of pension plans: defined contribution and defined benefit. A defined contribution plan invests a defined amount each pay period. The individual may have some discretion as to how the money is invested. The benefit, the amount of the pension, depends on the success of those investments. A defined benefit plan pays a known amount according to some formula, but the amount invested in the fund may vary. Pensions may be funded by making payments into a pension trust fund or by the purchase of annuities from insurance companies. In plans known as multiemployer plans, various employers contribute to one central trust fund administered by a joint board of trustees.
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