(chiefly, UK, Canada) Someone who lives on a pension, especially the retirement or old age pension.
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(by extension) Someone who is at the age at which one typically receives a pension; an elderly person.
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(obsolete, UK, Cambridge University) A student who is not dependent on any foundation for support, but pays all university charges.
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Regional slang from around the English-speaking world — British, Australian, Irish, Caribbean, Nigerian, Filipino, AAVE, and the hyphenated-English dialects that make the internet sound local.
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