年ねん金きん生せい活かつ者しゃ

• 年ねん金きん

  年金 is the pension itself, while 年金生活者 is the person who lives on it.

• 退たい職しょく者しゃ

  退職者 is a retiree in general, not necessarily living on a pension.

Compound of 年金 (pension) + 生活 (living) + 者 (person).