Definitions

1. noun

A regular payment made to someone, typically an old person, after they retire from work, usually from a government or employer.

“She will receive a generous pension after 20 years of service.”

2. verb

To provide or contribute to the payment of a pension for someone.

“The company will pension off its retired employees with a generous package.”

3. noun

A sum of money paid for the use of a property, especially a ship or a vessel.

“The pension on the ship was paid to the captain for its safe return.”