PENSIONS Meaning and
Definition
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Pensions are a form of financial arrangement that provides individuals with a regular income, typically during their retirement years. These payments are usually received in exchange for the accumulation of funds made during a person's working life through contributions or investments made by themselves, their employers, or both.
Pensions are often offered as a form of employee benefit, utilizing a pension plan or a retirement savings plan established by an employer. These plans may operate in various ways, such as defined benefit plans, where an employee is guaranteed a specific amount of income at retirement based on factors like salary and years of service, or defined contribution plans, where the final pension amount is determined based on the performance of the invested funds.
Pensions play a crucial role in providing financial security and stability to individuals during their retirement years, as they help replace the income that is no longer earned through employment. They aim to ensure a standard of living that is sustainable and comfortable for retired individuals.
Governments also administer pension programs, known as social security systems, which provide financial support to retired individuals who have contributed towards these systems throughout their working lives.
Overall, pensions serve as a valuable tool for individuals to plan and save for their retirement years, allowing them to enjoy their lives after leaving the workforce with a sense of financial security.
Top Common Misspellings for PENSIONS *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for PENSIONS
Etymology of PENSIONS
The word "pensions" has its origins in the Latin term "pensio", which means "payment" or "allowance". This Latin term is derived from the verb "pendere", which means "to pay" or "to weigh". The Latin term "pensio" was later adopted in Old French as "pencion", which meant the same thing. From Old French, the word was further borrowed into Middle English and eventually became "pension" as we know it today. The term "pension" came to refer specifically to regular payments made to individuals, often in retirement or as a form of financial support. Over time, the word has also been extended to refer to retirement funds or schemes provided by governments, employers, or private institutions.
Conjugate verb Pensions
CONDITIONAL
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would pension
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FUTURE
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will pension
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FUTURE PERFECT
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will have pensioned
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PAST
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pensioned
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pensioned
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pensioned
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PAST PERFECT
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had pensioned
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PRESENT
I
pension
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pension
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pension
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pensions
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pension
PRESENT PERFECT
I
have pensioned
we
have pensioned
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have pensioned
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has pensioned
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have pensioned
I
am pensioning
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are pensioning
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was pensioning
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will have been pensioning
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will have been pensioning
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would have pensioned
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would have pensioned
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I
would be pensioning
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would have been pensioning
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would have been pensioning
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