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Pensions

age pension

noun

a payment made by the Australian government to men over 65 and women over an age between 60 and 65

contribution

noun

a regular payment that you make when you are working that helps to pay for your pension or for benefits for people who are unemployed or ill

contributory

adjective

a contributory pension or insurance arrangement is one that involves payments by workers as well as employers

final salary scheme

noun

a pension plan in which the amount of an employee’s pension is based on the number of years that they worked for each employer and the salary they had at the end of each period of employment

index

verb

to make the value of something such as salaries or pensions rise or fall according to the general level of prices

index-linked

adjective

index-linked salaries, pensions etc rise or fall in value according to the general level of prices

money purchase scheme

noun

a pension plan in which a person’s payments are used to invest in an annuity. The amount of pension that the person receives depends on the total amount of payments they have made and how well their annuity performs.

non-contributory

adjective

a non-contributory pension is paid for by the government or an employer and not by the person who receives it

OAP

noun

old age pensioner: someone who is old enough to receive a pension from the government

occupational pension

noun

an amount of money that an employer pays regularly to someone who has retired because they are officially too old to work

pension

noun

money that someone regularly receives after they have stopped working because of their age, paid either by their company or by the government

pension

noun

relating to a pension

pension off

to force someone to stop working and give them a pension

pensionable

adjective

officially old enough to stop work and receive a pension

pensionable

adjective

pensionable pay is a salary that you make regular payments from in order to have a pension

pensioner

noun

someone who receives a pension from the government after they reach the age when they are officially old enough to stop working

pension fund

noun

money that a company or organization uses to pay pensions to people

pension plan

noun

a system designed to provide people with a pension after they have made regular payments over a long period of time

personal pension

noun

a type of pension that you arrange for yourself rather than through an employer

stakeholder pension

noun

a type of pension in the UK for people who do not earn a large salary. They pay money into a fund that is owned by a private company but controlled by the government.

stoppages

noun

money taken for tax, pension etc before you receive your salary

superannuation

noun

money that you pay regularly into a special plan offered by some employers, which you then receive as a monthly income when you retire (=stop working)

superannuation scheme

noun

a special plan similar to a pension offered by some employers, into which you pay money regularly so that you can receive a monthly income when you retire (=stop working)

from A to B

from one place to another

emoji

a small digital image … which is used in electronic communication to express emotion or other simple concepts

BuzzWord Article

Open Dictionary

major on (doing) sth

to have or do a lot of something; to focus on a particular thing

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