In general, that which is entitled. 1. Old age pension, social security, unemployment stipend stating a distribution or privilege or right to an economic benefit. Typically granted by contract or law. Meeting the required qualification triggers the entitlement. 2. Reference to a precedence or established procedure defends a right or claim. 3. Benefits to members of a particular group in a Government scheme. 4. Offer to the holder of a security, or physical transfer of cash or stock shares as a payment.