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What is the meaning of Pension? Concept, Definition of Pension

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Definition of Pension

1 Meaning of Pension

He is designated with the word pension, etymologically derived from the latin "pensionis", money that is imposed on an estate in respect of royalty or income by hosting, thus calling the House to accommodate people as guests. Usually occur in pension parts inside a family house in Exchange for a sum of money paid during regular (fortnightly, monthly or yearly).
In the hotel system is called half-board to the hosting service that comes with the right to breakfast and one meal (lunch or dinner), while full Board includes breakfast, lunch and dinner.
In another sense, is the money that ' protects those who are at social risk, either for being old and not be included in the pension system, or having passes to the widower as pension and retired spouse died, or have lost the job or suffered an accident at work. As we see differs from retirement (although in some places was taken to both terms as synonyms, calling pensions contributory pensions) in that this has been made by the worker contributions that give you that right resulting from a correspondence (though not exact) between contributed and received, while in the pension, the motive is not a consideration but contribute equitable and solidarity to help those at riskgeneral manager of the State.
The Argentinean pension integrated system, regulated by law 26.425 difference in its article 4, between ordinary retirement (by termination complying the requirements of age and years of service), disability retirement (before age and service requirements but being unable to continue to perform at work) and pension upon death of spouse, worker or retiree.

2. Definition of Pension

Pension is a concept that comes from the Latin word pensĭo and has several uses. It may be an amount that the State pays to a person when he retires, widowed or becomes disabled. That money is delivered on a regular basis, because for a period of time or permanently. For example: "Better we will have dinner next week, when it has already claimed the pension", "the Government could have problems to pay pensions from April", "Juana still not transacted the pension on the death of Jose".
Pensions, in this sense, are part of what is known as social security, which seeks to ensure that all people can meet their basic needs. Criteria for the payment of the pension depends on the laws of each nation, as well as the amount to receive.
According to their characteristics, a pension may be contributory or non-contributory. Contributory pensions are those which, in one way or another, the person that it receives it already has paid it at another time (i.e., has contributed to its establishment). That is the case of retirement, whose funds are created from the contributions of active workers. Non-contributory pensions, on the other hand, constitutes a right which arises directly by law (such as an alimony).
Known as pension, on the other hand, certain establishments that guests and the catering facilities offered by hotels: "At the age of 15, I left my parents House and went to live on a pension", "I made a reservation at a hotel with full Board".

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