2. A stated allowance to a person in consideration of past services; payment made to one retired from service, on account of age, disability, or other cause; especially, a regular stipend paid by a government to retired public officers, disabled soldiers, the families of soldiers killed in service, or to meritorious authors, or the like. To all that kept the city pensions and wages. (1 Esd. Iv. 56)
Origin: F, fr. L. Pensio a paying, payment, fr. Pendere, pensum, to weight, to pay; akin to pendre to hang. See Pendant, and cf. Spend.