Pension

A periodic payment made to a Pensioner under a pension scheme.

In some countries, such as Australia, the term can alternatively be applied to a lump sum payment on retirement.

See also

• Annuity
• Dependant
• Employee Retirement Income Security Act
• Means testing
• Morris Review
• Pensions Act
• Pension cost
• Pension scheme
• Pensions risk
• Replacement ratio