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Pensionable Meaning: Definition, Examples, and Translations

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pensionable

[หˆpษ›nสƒษ™nษ™bl ]

Definition

Context #1 | Adjective

financial benefits

Pensionable refers to a person's eligibility for a pension or retirement benefits. It typically denotes employment positions that qualify for retirement plans supported by contributions from both the employee and employer. In many countries, pensions are essential financial supports that provide income after retirement. The term may also be applied to conditions determining how long one must work before qualifying for pension benefits.

Synonyms

qualifying for pension, retirement-eligible.

Examples of usage

  • She has a pensionable job with great benefits.
  • Many employees are unsure if their positions are pensionable.
  • He worked fifteen years at a pensionable rate.
  • The company offers a pensionable scheme for its employees.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Historical Context

  • Pension plans have origins dating back to Roman times, where soldiers were granted pensions for their service.
  • The modern pension system began to take shape in the 19th century, influenced by factory work and the need to support aging workers.

Economic Significance

  • Pension plans are crucial for retirement security, providing a stable income for individuals post-retirement.
  • Countries with robust pension systems tend to have lower rates of poverty among the elderly.

Cultural Impact

  • Pensions are often portrayed in popular culture as a 'golden ticket' to leisure after a long working life.
  • In many societies, the promise of a pension influences career choices and job loyalty among employees.

Legal Aspects

  • In many places, laws regulate how pension plans must be structured to protect workers' rights to their benefits.
  • Changes in pension laws can significantly impact the financial well-being of millions, especially as populations age.

Origin of 'pensionable'

Main points about word origin

  • The word comes from 'pension', which is rooted in the Latin term 'pensionem', meaning 'payment' or 'compensation'.
  • The suffix โ€˜-ableโ€™ indicates that something can be done, so 'pensionable' means it can be paid out as a pension.

The word 'pensionable' originates from the root term 'pension', which comes from the Latin word 'pensio', meaning 'payment'. This evolved through Old French 'pension', which referred to a regular payment made to someone in return for services or to support them in retirement. It took its current form in English during the late 19th century as various pension schemes became more prevalent, particularly with the growth of industrial employment. As workers secured jobs with long-term benefits, the concept of pensionable employment became a significant topic in labor discussions, often focusing on the rights and conditions of workers in relation to retirement. Considering its increasing importance, legal frameworks were established to define 'pensionable' positions and the entitlements associated with them.

Word Frequency Rank

At rank #25,149, this word represents specialized academic or technical vocabulary. It's less frequently encountered but may be valuable in specific contexts.