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A severance package is pay and benefits that employees may be entitled to receive when they leave employment at a company unwilfully. In addition to their remaining regular pay, it may include some of the following:
A pension (/ ˈ p ɛ n ʃ ən /; from Latin pensiō ' payment ') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work.