pension plan

noun

1. a systematic plan created and maintained, as by a corporation, to make regular payments of benefits to retired or disabled employees, either on a contributory or a noncontributory basis.

2. retirement plan.

Word History and Origins

Origin of pension plan¹

First recorded in 1955–60

Example Sentences

The agreement includes higher wages, improved pension plans as well as health and welfare improvements, the union said.

From Los Angeles Times

While many people own stocks and shares directly, most people's exposure to stock markets come through their pension plans.

From BBC

In the good old days, employers offered traditional pension plans that paid a set amount monthly or a lump sum.

From Salon

UC Investments, which oversees the University of California’s pension plan that invested in the Blackstone opportunistic fund, similarly declined to comment.

From Los Angeles Times

One of the union goals, in addition to $25 an hour, is a pension plan.

From Los Angeles Times