Pension plan meaning in English
Learn how to use Pension plan correctly with Gymglish.
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Definition
a pension plan: a scheme or system used by a company to prepare its employees for retirement (by saving money)
Examples
- "What kind of pension plan do I have?"
- "Or what kind of pension plan should I get?"
- "So does everyone at Delavigne have a private pension plan?"
- "You've been contributing 6% of your salary to this pension plan since you arrived at Delavigne."
- "This is why you, like most employees in the US, also have another pension plan..."
- "Hannah : So I've got another pension plan, have I?"
- "Or should I get a pension plan?"
- "So, what have you got to tell me about pension plans in the USA?"
- "So, do I have a pension plan?"
- "He once stole my calculator, so I haven't told him about the pension plan!"
Exercise 1
Let's find some interesting vocabulary! Complete the phrases below with terms you heard in the dialogue.
This term means to "be owed" something, or to "have a right to" something. "I am to at least two weeks" holiday! I haven't had a break in 1452 days. I'm not a donkey!
This is a synonym for "pensioners" or "elderly people". We are looking for TWO words here! "There are reduced prices on museum passes for students, the unemployed and "
This is the system you pay into that then gives you monthly sums of money when you are old and have stopped working. We are looking for TWO words "My at work is quite good. I will be paid 60% of my monthly salary from the age of 65 to when I die".
This is the period in your life when you no longer work. This period usually starts when you are around 60-65. "My grandfather was given an engraved pen at his party. Not much considering he worked for the company for 45 years."
This term means to "be owed" something, or to "have a right to" something. "I am to at least two weeks" holiday! I haven't had a break in 1452 days. I'm not a donkey!
This is a synonym for "pensioners" or "elderly people". We are looking for TWO words here! "There are reduced prices on museum passes for students, the unemployed and "
This is the system you pay into that then gives you monthly sums of money when you are old and have stopped working. We are looking for TWO words "My at work is quite good. I will be paid 60% of my monthly salary from the age of 65 to when I die".
This is the period in your life when you no longer work. This period usually starts when you are around 60-65. "My grandfather was given an engraved pen at his party. Not much considering he worked for the company for 45 years."
Let's find some interesting vocabulary! Complete the phrases below with terms you heard in the dialogue.
This term means to "be owed" something, or to "have a right to" something. "I am entitled 1 to at least two weeks" holiday! I haven't had a break in 1452 days. I'm not a donkey!
This is a synonym for "pensioners" or "elderly people". We are looking for TWO words here! "There are reduced prices on museum passes for students, the unemployed and senior citizens 2"
This is the system you pay into that then gives you monthly sums of money when you are old and have stopped working. We are looking for TWO words "My pension plan 3 at work is quite good. I will be paid 60% of my monthly salary from the age of 65 to when I die".
This is the period in your life when you no longer work. This period usually starts when you are around 60-65. "My grandfather was given an engraved pen at his retirement 4 party. Not much considering he worked for the company for 45 years."
This term means to "be owed" something, or to "have a right to" something. "I am entitled 1 to at least two weeks" holiday! I haven't had a break in 1452 days. I'm not a donkey!
This is a synonym for "pensioners" or "elderly people". We are looking for TWO words here! "There are reduced prices on museum passes for students, the unemployed and senior citizens 2"
This is the system you pay into that then gives you monthly sums of money when you are old and have stopped working. We are looking for TWO words "My pension plan 3 at work is quite good. I will be paid 60% of my monthly salary from the age of 65 to when I die".
This is the period in your life when you no longer work. This period usually starts when you are around 60-65. "My grandfather was given an engraved pen at his retirement 4 party. Not much considering he worked for the company for 45 years."
1 entitled: This is the correct answer here. To be "entitled" to something means that we have the "right" to something. another example: After the divorce, the judge declared that my husband was entitled to visitation rights to our pet rabbits. I was furious!'
2 senior citizens: This is the right answer. It's also the most polite way of referring to people over the age of 65.
3 pension plan: This is the correct answer. A "pension plan" is a savings scheme. Most European countries give state pensions to their citizens. However, these are often quite low amounts of money and so many people choose to have a "private pension plan" so they avoid financial difficulty when they are older and no longer have a regular income. In the US, almost all workers have a private pension plan because the money provided by the government is not enough to live on.
4 retirement: This is correct. "Retirement" is the period of your life where you put your feet up by the fire, start knitting, always get a seat on the bus, buy a camper van, worry about your bowels or learn to play golf! We've all got a lot to look forward to!
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