pension plan

noun
1.
a systematic plan created and maintained, as by a corporation, to make regular payments of benefits to retired or disabled employees, either on a contributory or a noncontributory basis.
2.
retirement plan ( def 1 ).
Origin:
1955–60

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
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WordNet
pension plan

noun
a plan for setting aside money to be spent after retirement 
WordNet® 3.0, © 2006 by Princeton University.
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00:10
Pension plan is always a great word to know.
So is ninnyhammer. Does it mean:
a fool or simpleton; ninny.
a calculus or concretion found in the stomach or intestines of certain animals, esp. ruminants, formerly reputed to be an effective remedy for poison.
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Example sentences
Their pension plan can't be equaled, that is the problem.
If you are the recipient of a defined benefit pension plan, your organization
  had to make similar adjustments for you.
The choice of funds within the pension plan is therefore extremely important.
United will keep deferring payments to pension plan.
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