Source : Webster's Revised Unabridged Dictionary (1913)

Pensioner \Pen"sion*er\, n.
   1. One in receipt of a pension; hence, figuratively, a
      dependent.

            The fickle pensioners of Morpheus' train. --Milton.

            Old pensioners . . . of Chelsea Hospital.
                                                  --Macaulay.

   2. One of an honorable band of gentlemen who attend the
      sovereign of England on state occasions, and receive an
      annual pension, or allowance, of [pounds]150 and two
      horses.

   3. [Cf. F. pensionnaire one who pays for his board. Cf.
      {Pensionary}, n.] In the university of Cambridge, England,
      one who pays for his living in commons; -- corresponding
      to commoner at Oxford. --Ld. Lytton.

Source : WordNet®

pensioner
     n : the beneficiary of a pension fund [syn: {pensionary}]