Pension payments refer to a regular payment made by an employer or the government to retired employees. These payments are typically made from a pool of funds set aside specifically for pensions, and they provide a steady source of income for individuals who have stopped working. Pension plans can be either defined benefit or defined contribution, with each type having different rules and requirements for eligibility and payment amounts. In general, however, pension payments are intended to help retired workers maintain a comfortable standard of living during their retirement years.