retirement plan
noun /rɪˈtaɪəmənt plæn/
  /rɪˈtaɪərmənt plæn/
(North American English) (British English usually pension scheme)
 (also pension plan British and North American English)
- a system in which you, and usually your employer, pay money regularly into a fund while you are employed. You are then paid a pension when you retire.