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pension

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noun [countable] British English pronunciation: pension /ˈpenʃ(ə)n/ 
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singularpension
pluralpensions
  1. money that someone regularly receives after they have stopped working because of their age, paid either by their company or by the government

    an occupational pension (=provided by your employer)

    draw a pension (=receive it):

    He started drawing his pension last year.

    1. a.
      [only before noun] relating to a pension

      a pension fund/plan

      It's important to make regular pension contributions.

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