Extremely positive news about sailor occasionally getting allowance (7)
I believe the answer is:
pension
'allowance' is the definition.
(thesaurus)
'extremely positive news about sailor occasionally' is the wordplay.
'extremely' says to hollow out the word (remove centre letters) (letters on the extremes of the word are used).
'news' becomes 'nn' (an abbreviation for new written twice).
'about' is an insertion indicator.
'occasionally' means one should take alternating letters (letters taken at regular intervals or occasions).
'positive' with its middle removed is 'pe'.
The alternate letters of 'sailor' are 'sio'.
'nn' placed around 'sio' is 'nsion'.
'pe'+'nsion'='PENSION'
'getting' is the link.
(Other definitions for pension that I've seen before include "Retirement pay in a Continental boarding-house" , "Retirement allowance" , "Nice little hotel" , "Regular payment received after retirement" , "Income in retirement" .)