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 ( def 1 ).

Word History and Origins

Origin of pension plan¹

First recorded in 1955–60

Example Sentences

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

As she was self-employed, she hadn't started a pension plan "because I didn't think there was any need to".

From BBC

The firm that sold its stake, which invests funds for the Canadian pension plan, declined to comment.

From BBC

But Banke said the California State Athletic Commission, which administers the 40-year-old pension plan, repeatedly told him over the years that he didn’t qualify.

From Los Angeles Times