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A financial benefit for someone who has retired 

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A financial benefit for someone who has retired

Answer

PENSION


Definition

A payment; a tribute; something paid or given.
A stated allowance to a person in consideration of past services; payment made to one retired from service, on account of age, disability, or other cause; especially, a regular stipend paid by a government to retired public officers, disabled soldiers, the families of soldiers killed in service, or to meritorious authors, or the like.
A certain sum of money paid to a clergyman in lieu of tithes.
A boarding house or boarding school in France, Belgium, Switzerland, etc.
To grant a pension to; to pay a regular stipend to; in consideration of service already performed; -- sometimes followed by off; as, to pension off a servant.