pensioner -
Someone who is at the age at which one typically receives a pension; an elderly person.
pensioner -
A student who is not dependent on any foundation for support, but pays all university charges; at Oxford called a commoner.
Wikipedia
In common parlance, a pensioner is a person who has retired, and now collects a pension. This is a term typically used in the United Kingdom and Australia where someone of pensionable age may also be referred to as an 'old age pensioner', or OAP. In the United States, the term retiree is more common.
