superannuation

[soo-per-an-yoo-ey-shuhn]
noun
1.
the act of superannuating.
2.
the state of being superannuated.
3.
a pension or allowance to a superannuated person.

Origin:
1650–60; superannuate + -ion

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
superannuation (ˌsuːpərˌænjʊˈeɪʃən)
 
n
1.  a.  the amount deducted regularly from employees' incomes in a contributory pension scheme
 b.  the pension finally paid to such employees
2.  the act or process of superannuating or the condition of being superannuated

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
Then he showed me--all the ties were yellowed with superannuation.
Several years ago the system suddenly changed: all new workers had to pay the superannuation tax to a private monetary fund.
Superannuation funds are organized as trusts directed by trustees.
Superannuation funds are responsible for the administration of contributions and benefits and the investment of funds.
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