Type of hotel enjoyed by the retired (7)

I believe the answer is:

pension

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'type of hotel' is the definition.
'pension' can be an answer for 'hotel' (thesaurus). I am not sure about the 'type of' bit.

I can't explain the rest of the clue.

Can you help me to learn more?

(Other definitions for pension that I've seen before include "Nice little hotel" , "Income in retirement" , "Retired person's allowance" , "what oldies may have earned" , "Regular payment for older people" .)

I've seen this clue in The Globe and Mail.

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