Pensio are given to those soldiers of the Empire that have served their term with honor, dignity, and glory. They have survived the many war zones of the Empire. For this their Emperor has a set plan for every faithful servant that would risk their life for his own glory.
Pensio are payments in: money, 'gifts', and land for the retired soldiers of the Empire usually in the forms of decent sized villas upon the garden worlds, a healthy life style, and a few servants to pamper their master in their golden years.
Pensio are far more 'extravagant' the higher up one goes in the military chain of command. Do note that military officials ranked major and above are considered 'nobles' within the eyes of the state. The Pensio of these individuals take the form of opulent lives and massive estates upon a variety of worlds and with a army of slaves at their disposal.
This is far from the greatest Pensio the state offers. For retired members of the high command the role of planetary governor and even sector governors is offered which virtually makes them a noble of the highest according ruling over a entire planet usually from a massive palace complex.
Even greater then all of these is to be allowed to enter 'Paradisum' a place where only the greatest heroes and saints of the Empire will ever be allowed to enter. Popular myth claims it is a land of immortals where one's every wish and desire is fulfilled for all of eternity yet never feels boring or drag.