Etymology:
Meaning:
A person who receives a regular payment from a former employer or the government after retirement in recognition of their past employment.
Origin:
The term "pensioner" emerged in the late Middle Ages, initially referring to individuals who received payments or grants from wealthy patrons or the crown in exchange for services or support. Over time, the term became associated with retired individuals who received regular payments from their former employers or the government.
In the early days of pension systems, pensions were typically only available to members of the military, government officials, or privileged classes. However, as industrialization and urbanization increased, the need for pension plans expanded to cover a broader range of workers. Today, pension plans are a common form of retirement income for many individuals in developed countries.
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