1 A replacement of employment earnings for retired persons. It can take the form of a flat rate benefit or be related to previous earnings and be arranged by a government or firm or financial institution. Pensions can be financed from an insurance fund...

The accumulated contributions of an employer and employees of a firm, or other employing organization, which are used to finance the future payment of retirement pensions. In the UK, the largest funds are those of the long-established public...

A retirement income calculated according to a formula based on a person’s final employment salary and years of...

For the lodging, see Pension (lodging). A pension is a steady income given to a person (usually after retirement). Pensions are typically payments made in the form of a guaranteed annuity to a retired or disabled employee. Some retirement plan (or...