PENSION Definition

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PENSION is a regular payment to a person that is intended to allow them to subsist without working, e.g. a retirement fund for employees paid for or contributed to by an employer as part of a package of compensation for the employees work.

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ARBITRAGEUR is traditionally someone who indulges in arbitrage of any sort; now a Wall Street term for a professional investor who specializes in issues during takeovers.

CASH COVERAGE RATIO see CASH DEBT COVERAGE RATIO.

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