old-age insurance
1
3.7
- noun
- Specialized
:
seguro de jubilación
- In 1961, the age at which men are first eligible for old-age insurance was lowered to 62, with benefits actuarially reduced.
Examples
-
Many seniors rely on old-age insurance to cover their living expenses after retirement.
-
Promoters of social insurance met with some success, particularly in the provisions for unemployment insurance and old age insurance, but the program had many shortcomings.
Academic text (1995) -
Marked progress has been made in developing the social security system; the basic old-age insurance system covering both the urban and rural populations has been fully established, and a new type of social assistance system is taking shape.
Blog text (13) -
The government provides old-age insurance benefits to individuals once they reach the age of sixty-five.
-
It's important to understand how old-age insurance works before planning for your retirement.
Surface Forms
Morphology
old-age + insurance
The meaning 'insurance that provides payments after reaching old age' is directly and compositionally derived from 'old-age' (relating to advanced/retirement age) plus 'insurance' (a financial protection/payment arrangement). This is a transparent compound following common cross-linguistic patterns, so a B1 learner who knows the constituent words would readily infer the MWE's meaning.
Etymology
The name old-age insurance shows the idea: you put money into an insurance plan labelled old-age while you work so it will pay you when you are older. So, it means insurance that gives money to people after they reach the age for 'retirement'.