/ˈpɛnʃən plæn/ – Phrase
Definition: Kế hoạch trợ cấp hưu trí.
A more thorough explanation: an arrangement with an insurance company for an employee to pay part of their salary towards a pension fund over many years and to then receive a regular sum of money when the employee retires (=stops working because they have reached the pension age)
Example: Her pension plan will provide her with an income of around $3500 a month following retirement.