The Collaborative International Dictionary of English v.0.48:

Pension \Pen"sion\, v. t. [imp. & p. p. Pensioned; p. pr. &
   vb. n. Pensioning.]
   To grant a pension to; to pay a regular stipend to; in
   consideration of service already performed; -- sometimes
   followed by off; as, to pension off a servant.
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         One knighted Blackmore, and one pensioned Quarles.
                                                  --Pope.
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The Collaborative International Dictionary of English v.0.48:

Pension \Pen"sion\, n. [F., fr. L. pensio a paying, payment, fr.
   pendere, pensum, to weight, to pay; akin to pend?re to hang.
   See Pendant, and cf. Spend.]
   1. A payment; a tribute; something paid or given. [Obs.]
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            The stomach's pension, and the time's expense.
                                                  --Sylvester.
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   2. A stated allowance to a person in consideration of past
      services; payment made to one retired from service, on
      account of age, disability, or other cause; also, a
      regular stipend paid by a government to retired public
      officers, disabled soldiers, the families of soldiers
      killed in service, or to meritorious authors, or the like.
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            To all that kept the city pensions and wages. --1
                                                  Esd. iv. 56.
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   3. A certain sum of money paid to a clergyman in lieu of
      tithes. [Eng.] --Mozley & W.
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   4. [F., pronounced ?.] A boarding house or boarding school in
      France, Belgium, Switzerland, etc.
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WordNet (r) 3.0 (2006):

pension
    n 1: a regular payment to a person that is intended to allow
         them to subsist without working
    v 1: grant a pension to [syn: pension, pension off]

Moby Thesaurus II by Grady Ward, 1.0:

61 Moby Thesaurus words for "pension":
   aid, alimony, allotment, allowance, annuity, assistance, benefit,
   boardinghouse, bounty, depletion allowance, dismiss, dole, dorm,
   dormitory, doss house, fellowship, financial assistance, fleabag,
   flophouse, grant, grant-in-aid, guaranteed annual income,
   guest house, help, hospice, hostel, hostelry, hotel, inn,
   lodging house, old-age insurance, ordinary, pecuniary aid,
   pension off, posada, price support, pub, public, public assistance,
   public house, public welfare, relief, retirement benefits,
   roadhouse, rooming house, scholarship, shelve, social security,
   stipend, subsidization, subsidy, subsistence, subvention,
   superannuate, superannuation, support, tavern, tax benefit,
   welfare, welfare aid, welfare payments