pension plan
noun [ C ]
ukus(also UK pension scheme); (US retirement plan) FINANCE
a system which allows people who are working to make regular payments from their income to invest in a pension:
start/take out a pension plan Some of the advice must have sunk in, though, as about two years ago she took out a pension plan.
pay (sth) into/put sth into a pension plan How much should you put into a pension plan to be sure you have adequate retirement income?
a company/personal pension plan