jubilación
retirement
jubilee
celebration
+
-ción
noun suffix
Jubilación means retirement and can be thought of as a jubilee0 (celebration0) -ción1 (noun1) of one's working life.
noun
- retirementRetirement; the act of retiring from work or a careerMi abuelo disfruta de su jubilación en la playa. // My grandfather enjoys his retirement at the beach.