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What is "pension plan"

Longman Dictionary of Contemporary English
pension plan
noun
EXAMPLES FROM CORPUS
▪ Among other things, this raises the income limits for deducting contributions by a taxpayer with a pension plan.
▪ If you do not have a pension plan, when you eventually stop working your income will drop - perhaps dramatically.
▪ Once you have a pension plan, be sure to use a pension plan expert to help you keep your plan qualified.
▪ Popular options are repayment linked to either an endowment policy or a pension plan.
▪ Present pension rules raise problems for workers who want to roll over money from one pension plan to another.
WordNet
pension plan

n. a plan for setting aside money to be spent after retirement [syn: pension account, retirement plan, retirement savings plan, retirement savings account, retirement account, retirement program]

Usage examples of "pension plan".

We wondered if people realize how risky it is to depend on a pension plan.

His last assignment had been on a committee that was seriously considering implementing a secret pension plan for former high-ranking KGB officials.

He earned forty thousand dollars a year, with health insurance and an average pension plan, and was due for a raise in three months.

Every senior employee who works for a company the size of the telephone system is required to belong to the corporate pension plan.

Like I'm walking away from a great job and forfeiting my stake in the corporate pension plan.

On the other hand, there's no pension plan, and since you don't pay taxes neither do you qualify for Social Security and Medicare and all the other benefits that sparkle like diamonds in the setting of the golden years.