pensioner

[pen-shuh-ner]
noun
1.
a person who receives or lives on a pension.
2.
a hireling.
3.
a student at Cambridge University who pays for his or her commons and other expenses, and is not supported by any foundation.
4.
Obsolete. a gentleman-at-arms.

Origin:
1400–50; late Middle English < Anglo-French; see pension, -er2

pensionership, noun
nonpensioner, noun
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
pensioner (ˈpɛnʃənə)
 
n
1.  a person who is receiving a pension, esp an old-age pension from the state
2.  a person dependent on the pay or bounty of another
3.  obsolete (Brit) another name for gentleman-at-arms

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
The only facility the soviet had was an outhouse, and the pensioner was its
  attendant.
The number of workers shouldering the tax burden is due to fall from two per
  pensioner to one.
In rich countries there are now roughly four workers for every pensioner.
At the same time, the fiscal burden on the diminishing number of worker-bees
  will rise as more people turn into pensioner drones.
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