I read "pensionista". This seems to be a word that does not exist in Italian today. We use the word "pensionato" to mean "retired". "Pensione" can also be used to mean (here I may use some inapposite word) a periodical income. So, what I think, but I can't be sure, is that Carlo was a man who lived with some sort of annuity (even if at that time welfare as we mean it today did not exist)
Giuseppe "Pippo" Moccaldi
Certificate requests and genealogical researches in Italy. Translation of your (old) documents and letters. Legal assistance in Italy for your Italian citizenship.