pension

An annuity paid regularly as benefit due to a retired employee, serviceman etc. in consideration of past services, originally and chiefly by a government but also by various private pension schemes.

"Many old people depend on their pension to pay the bills."

A boarding house or small hotel, especially in continental Europe, which typically offers lodging and certain meals and services.

"A pension had somewhat less to offer than a hotel; it was always smaller, and never elegant; it sometimes offered breakfast, and sometimes not (John Irving)."

A wage or fee.

To grant a pension to.

To force (someone) to retire on a pension.