Advanced Vocabulary - Pensions

Pensions

age pension noun

Australian 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

business British 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

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

index-linked adjective

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

money purchase scheme noun

business 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

British mainly journalism old age pensioner: someone who is old enough to receive a pension from the government.

occupational pension noun

British 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

economics 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

British 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

British 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

total words = 24