pension vs award

pension and award both are nouns.

Word	Noun	Adjective	Verb	Adverb
pension	Yes	No	Yes	No
award	Yes	No	Yes	No

As verbs, award is a hypernym of pension; that is, award is a word with a broader meaning than pension:

Other hypernyms of pension include grant.

pension (noun)	award (noun)
a regular payment to a person that is intended to allow them to subsist without working	a grant made by a law court
	a tangible symbol signifying approval or distinction
	something given for victory or superiority in a contest or competition or for winning a lottery

pension (verb)	award (verb)
grant a pension to	give, especially as an honor or reward
	give as judged due or on the basis of merit