pension plan

pension plan (plural pension plans)

1. An employment benefit in which the employer pays money on a regular basis to an employee after retirement.

   Synonym: pension scheme

• pension funds
• 401(k)

• “pension plan”, in Cambridge English Dictionary, Cambridge, Cambridgeshire: Cambridge University Press, 1999–present.
• “pension plan”, in Merriam-Webster Online Dictionary, Springfield, Mass.: Merriam-Webster, 1996–present.