pension payout
Monthly retirement check
A pension payout is the distribution of retirement funds to a beneficiary, either as a lump sum or as periodic payments.
When someone retires or leaves a job, they may choose how to receive their accumulated pension benefits: She opted for monthly pension payouts rather than taking the full amount at once.
The term also applies to survivor benefits paid to a spouse or dependent after a pensioner's death.
- retirementLeaving the workforce permanently
- retirement incomeFunds for post-work years
- defined benefitPredetermined retirement payment arrangement
- final salaryEarnings at career's end
- benefitsGains or helpful effects
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pension payoutpension contribution
Payment into retirement fund
employee contribution · payroll deduction · employer contribution · premium payment · retirement savings
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