pension fund

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Also see: fund

Concise Oxford English Dictionary © 2008 Oxford University Press:
pension1 /ˈpɛnʃ(ə)n/

▶noun a regular payment made by the state to people of or above the official retirement age and to some widows and disabled people.

■ a regular payment made during a person's retirement from an investment fund to which that person or their employer has contributed during their working life.

■ chiefly historical a regular payment made to a royal favourite or to enable an artist or scholar to continue their work.

▶verb (pension someone off) dismiss someone from employment and pay them a pension.

■ (pension something off) discard something that is unwanted or outdated.

– derivatives
pensionability noun,
pensionable adjective,
pensionless adjective.

– origin ME: from OFr., from L. pensio(n-) ‘payment’, from pendere ‘to pay’.

Concise Oxford English Dictionary © 2008 Oxford University Press:
pension2 /pɒ̃ˈsjɒ̃/

▶noun a small hotel or boarding house in France and other European countries.

– origin from Fr.