superannuation

 
Pronunciation: /ˌsuːpəranjʊˈeɪʃ(ə)n, ˌsjuː-/

noun

[mass noun, usually as modifier]
  • regular payment made into a fund by an employee towards a future pension: a superannuation fund
  • a pension of this type paid to a retired person: had he agreed to resign, he would have been entitled to his superannuation for 29 years' service
  • the process of superannuating an employee.