"defined benefits" means: Describing a pension scheme in which an employer agrees to provide a pension payment or lump sum on retirement that is predetermined based o.... This is a fairly neutral word with no inherent risk attached. There is no real cause for parental concern; it is descriptive vocabulary rather than something dangerous. If your child uses it, context will usually make the meaning clear. A brief, curious question about where they heard it is generally enough to know whether to follow up.