annuity

An annuity is a sum of money or an investmernt that is paid at regular intervals. (noun)

Money that people receive regularly once they are retired is an example of an annuity.

See annuity in Webster's New World College Dictionary

noun pl. annuities

a payment of a fixed sum of money at regular intervals of time, esp. yearly
an investment yielding periodic payments during the annuitant's lifetime, for a stated number of years, or in perpetuity

See annuity in American Heritage Dictionary 4

(ə-no͞oˈĭ-tē, ə-nyo͞oˈ-)

noun pl. an·nu·i·ties

a. The annual payment of an allowance or income.
b. The right to receive this payment or the obligation to make this payment.
A contract or agreement by which one receives fixed payments on an investment for a lifetime or for a specified number of years.

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