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Legal Definitions - pensioner
Definition of pensioner
A pensioner is an individual who receives regular, periodic payments from a pension plan. These payments are typically provided after a person retires from employment, becomes disabled, or, in some cases, to a surviving family member of a deceased plan participant.
Examples:
Scenario: After dedicating 30 years to teaching in the public school system, Maria retired at age 65. She now receives a fixed monthly payment from the state's teacher retirement fund.
Explanation: Maria is a pensioner because she is the recipient of ongoing payments from a pension plan established through her long-term employment.
Scenario: When Mr. Henderson, a retired factory worker, passed away, his pension plan included a provision for his wife, Sarah, to continue receiving a portion of his monthly payments.
Explanation: Sarah is a pensioner because she is a beneficiary receiving regular payments from her late husband's pension plan, even though she was not the original employee who earned the pension.
Scenario: David worked for a large corporation for 15 years before a severe accident left him permanently unable to work. His company's disability pension plan now provides him with a monthly income.
Explanation: David is a pensioner because he is receiving regular payments from a pension plan due to his inability to continue working, demonstrating that pension benefits are not exclusively for old-age retirement.
Simple Definition
A pensioner is an individual who receives regular payments or benefits from a pension plan. This person is the beneficiary of the plan, typically after retirement or meeting specific eligibility criteria.