From Longman Dictionary of Contemporary Englishold age pensionˌold age ˈpension noun [countable, uncountable] British English PEWOLD/NOT YOUNGmoney that is paid regularly by the state to old people who do not work anymore SYN social security American English
Examples from the Corpus
old age pension• The rise in my old age pension is £2.25 a week.From Longman Business Dictionaryold age pensionˌold age ˈpension informalFINANCE a RETIREMENT PENSION → pension 