Pension Plan (Noun)
Meaning
A plan for setting aside money to be spent after retirement.
Classification
Nouns denoting cognitive processes and contents.
Examples
- The company offered a generous pension plan to its employees, which included a guaranteed annual payment after retirement.
- She had contributed to her pension plan for over 30 years and was now enjoying a comfortable retirement.
- The new employee was excited to learn that the company's pension plan would match her contributions dollar for dollar.
- After retiring, he relied heavily on his pension plan to supplement his social security income.
- The government's pension plan for public servants was widely regarded as one of the most generous in the country.
Synonyms
- Pension Account
- Retirement Savings Account
- Retirement Program
- Retirement Account
- Retirement Savings Plan
- Retirement Plan