PENSIONING OFF Meaning and
Definition
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Pensioning off refers to the act of retiring or granting a pension to an individual, usually an employee, as a form of monetary support during their retirement years. This term is commonly used in the context of formal employment settings where employers offer pension plans to their workers.
When an organization pensionates or "pensions off" an individual, it typically means that the employee has reached the retirement age specified in their employment contract or the regulations of their pension plan. This grants them the right to receive a regular income or pension payments from the employer as a form of financial compensation for their years of service.
Pensioning off is often a highly anticipated event, particularly for individuals who have dedicated a substantial portion of their lives to a certain job or career. It signifies the transitioning of the employee from active work to a more leisure-oriented lifestyle. By pensioning off an employee, the employer recognizes the individual's commitment and contributions, ensuring they have a stable income source to support themselves and enjoy their retirement.
The process of pensioning off typically involves working closely with the employer's human resources department or retirement plan administrator to finalize the necessary paperwork and documentation. The retiree will then likely receive periodic pension payments, usually on a monthly basis, until their death or the specified end of the pension plan.
In conclusion, pensioning off is the process of retiring an employee and providing them with a regular income or pension plan as a financial support system during their retirement years.
Common Misspellings for PENSIONING OFF
- oensioning off
- lensioning off
- -ensioning off
- 0ensioning off
- pwnsioning off
- psnsioning off
- pdnsioning off
- prnsioning off
- p4nsioning off
- p3nsioning off
- pebsioning off
- pemsioning off
- pejsioning off
- pehsioning off
- penaioning off
- penzioning off
- penxioning off
- pendioning off
- peneioning off
- penwioning off
Etymology of PENSIONING OFF
The phrase "pensioning off" is derived from the word "pension". The word "pension" originates from the Old French word "pension" or "pencion", meaning "payment, rent, or income". It can be traced back to the Latin word "pensio", which meant "a paying". Originally, a pension referred to a regular payment or income given to a person in consideration of past services, typically from an employer or the state. The verb form "pensioning off" is a later development, referring to the act of granting or retiring someone with a pension.
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