How to Say "pension" in Spanish
The Spanish word for “pension” is “pensión” — B1 level. This is a very common word in everyday Spanish.
English → SpanishB1
nounB1
regular retirement payment

Examples
Mi abuela vive cómodamente con su pensión.
My grandmother lives comfortably with her pension.
Solicitaron la pensión de viudedad después de su fallecimiento.
They applied for the widow's pension after his passing.
Use of 'la'
Since 'pensión' is feminine, you almost always use the article 'la' or 'una' before it.
Confusing 'pensión' and 'jubilación'
Mistake: “Using 'jubilación' when you mean the money.”
Correction: The money you receive is the 'pensión'; the act of retiring is 'la jubilación'.
Related Translations
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