1. To force someone to go into retirement and begin receiving their pension. A noun or pronoun can be used between "pension" and "off." They wanted to pension me off early, but I refused to leave before I turned 70. Anyone who works for the city or state will be automatically pensioned off at 65.

2. To discard or cease to use something due to being old or obsolete. A noun or pronoun can be used between "pension" and "off." The army pensioned trucks like these off in the 1990s, and you can find them for dirt cheap these days if you're willing to invest in repairs. I finally decided to pension off my computer so I could use something a bit more up-to-date for my postgraduate degree.