Annuitant

n. recipient of an annuity (yearly financial allowance)

Annuitant defined: A person who is entitled to receive benefits from an annuity.Recently (since the Year 2000) in the United States of America, Federal and State agencies have allowed the re-hiring of retired employees without the loss of their retirement benefits. Such a "re-hire" is referred to as an annuitant. Often a maximum number of hours per year which the annuitant may work is specified.
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Noun
1. the recipient of an annuity
(hypernym) recipient, receiver

n. annuitant, recipient of an annuity (yearly financial allowance)

(n.)
One who receives, or its entitled to receive, an annuity.