retirement benefit

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Word: Retirement Benefit

Definition: A retirement benefit is a monthly payment that a person receives after they stop working, usually because they have reached a certain age or after a long time of working. This payment helps support them financially in their retirement years.

Usage Instructions:

• When to use: You can use "retirement benefit" when talking about money that people receive after they finish their careers. It is often discussed in the context of jobs, pensions, and financial planning for the future.
• How to use in a sentence: "After 30 years of service, she received a good retirement benefit that helped her live comfortably."

Example:

• "My grandfather enjoys his retirement benefit every month, which allows him to travel and spend time with family."

Advanced Usage:

• In discussions about financial planning, you might hear phrases like "pension plan" or "social security benefits," which are types of retirement benefits.

Word Variants:

• Retiree: A person who has retired and is receiving retirement benefits.
• Retirement Plan: A strategy or program that helps individuals save money for their retirement.

Different Meanings:

• "Benefit" can also refer to any advantage or profit gained from something, not just in the context of retirement. For example, "The new policy has many benefits for employees."

Synonyms:

• Pension
• Annuity
• Retirement income
• Social security (in some contexts)

Idioms and Phrasal Verbs:

• "Golden years": This phrase refers to the time in a person's life after they retire, often considered a time for enjoyment and relaxation.
• "Nest egg": This idiom describes savings that are set aside for retirement or future use.

Summary:

A retirement benefit is an important financial support system for people who have stopped working.

Academic

Noun

1. a monthly payment made to someone who is retired from work

Synonyms

• old-age pension
• retirement pension
• retirement check
• retirement fund
• superannuation