What does the cryptic crossword clue "Home cut method of payment for old people (5)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

Home cut method of payment for old people (5)

Telegraph Prize Cryptic #3275 | 11 Across | 2024-07-28 flower

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