What is PENSION?

A stated allowance out o? the public treasury granted by government to an individual, or to his representatives, for his valuable services to the country, or in compensation for loss or damage sustained by him in the public service. Price v. Society for Savings, 64 Conn. 362, 30 Atl. 139, 42 Am. St. Rep. 198; Manning v. Spry, 121 Iowa, 191, 96 N. W. 873; Frisbie v. U. S

More On This Topic

Link to This Definition
Did you find this definition of PENSION helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary