annuity

US /əˈnjuː.ə.t̬i/
UK /əˈnjuː.ə.t̬i/
"annuity" picture
1.

a fixed sum of money paid to someone each year, typically for the rest of their life.

:
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She receives an annuity from her retirement fund.
•
Many people invest in annuities for a steady income in retirement.
:
pensionstipendallowancegrantincome