Person on a pension (7)
I believe the answer is:
retiree
'person on a pension' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for retiree that I've seen before include "One no longer working" , "One ceasing to work" , "Someone no longer working" , "One having completed work" , "One put out to pasture" .)