Pension for Dummies
verb
pronunciation: 'pɛnʃənWhat does Pension really mean?
Pension is a word that refers to a special kind of payment that a person receives regularly after they retire from their job or reach a certain age. It's like getting a monthly or yearly allowance for all the hard work you've done during your working years. You can think of it as a reward for all of your efforts and dedication throughout your career.
So, imagine if your parents give you a small amount of money every week to spend on things you like. It's like having your own personal fund, right? Just like that, a pension is like a fund that provides you with money regularly when you no longer work. It's there to support you financially, making sure you have enough to cover your living expenses and enjoy your retirement years without worrying too much about money.
Now, let's go a little deeper into what "pension" can mean. Apart from the regular payments that support you after you retire, the word can also be used to describe the system or plan that sets up and manages these payments for retired individuals.
Think of it like a big organization that takes care of all the financial aspects of your future when you're no longer working. Just like a bank takes care of your money and keeps it safe, a pension plan takes care of your retirement funds and makes sure you're provided for.
So, in a nutshell, "pension" means the money you receive regularly after you retire and the system that manages those payments. It's like getting a special allowance, like a personal fund for your future, so you can enjoy your retirement without worrying about finances. Isn't that a reassuring thought?
Revised and Fact checked by Liam Lewis on 2023-10-29 20:00:34
Pension In a sentece
Learn how to use Pension inside a sentece
- When people get older and stop working, they receive a regular amount of money from their government or company. This regular amount of money is called a pension.
- Imagine if your grandpa worked very hard his whole life but now he doesn't have to go to work anymore. Instead, he gets a fixed amount of money every month from the government as his pension.
- Let's say your aunt worked for a company for many years. Now that she's retired, the company still gives her a certain amount of money every month as her pension.
- Sometimes, when someone has a job, a part of their salary is saved for their future. This saved money is used to pay them a regular amount of money when they retire. This regular amount of money is their pension.
- Think of a pension as a special kind of savings account. When someone retires, they can withdraw a certain amount of money from this account every month to support themselves.
Pension Synonyms
Words that can be interchanged for the original word in the same context.
Pension Hypernyms
Words that are more generic than the original word.
Pension Hyponyms
Words that are more specific than the original word.