Pensioning Meaning: Definition, Examples, and Translations
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pensioning
[ˈpɛnʃənɪŋ ]
Definition
retirement plan
Pensioning refers to the process of receiving a pension, which is a regular payment made during a person's retirement from an investment fund. This payment can be a crucial aspect of financial stability in old age. Pensioning often involves a legal agreement between an employee and employer, where a portion of the employee's salary is set aside for retirement income. It can also apply to systems where the government provides financial support to retired individuals. Pensioning is vital for ensuring that people can maintain their quality of life after they stop working.
Synonyms
Examples of usage
- He has been pensioning for five years now.
- Many workers plan their finances around pensioning.
- Pensioning is essential for a secure retirement.
Translations
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Origin of 'pensioning'
The term 'pension' originates from the Latin word 'pensio', which means 'payment'. This Latin root traces back to 'pendere', meaning 'to weigh' or 'to pay'. The concept of pensioning evolved in the Middle Ages when European monarchies began granting pensions to retired soldiers and civil servants. Over the years, various countries developed formal pension systems, allowing workers to save for retirement through structured plans. By the 20th century, pensioning had become widespread, encompassing both private and government-operated schemes. Today, public pension systems are vital in many economies, and the term 'pensioning' has come to signify the broader concept of receiving post-employment income.