Commutation: Difference between revisions
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The foregoing of part or all of the pension payable from retirement in exchange for an immediate lump sum benefit. | The foregoing of part or all of the pension payable from retirement in exchange for an immediate lump sum benefit. | ||
In some countries there may be a tax benefit to partial commutation. (Under UK tax rules, up to 25% for example, of the value of a pension may be taken in the form of a tax free lump sum.) | In some countries there may be a tax benefit to partial commutation. | ||
(Under UK tax rules, up to 25% for example, of the value of a pension may be taken in the form of a tax free lump sum.) | |||
== See also == | == See also == | ||
* [[Commutative]] | |||
* [[Lump sum]] | * [[Lump sum]] | ||
Revision as of 20:55, 18 June 2016
Pensions.
The foregoing of part or all of the pension payable from retirement in exchange for an immediate lump sum benefit.
In some countries there may be a tax benefit to partial commutation.
(Under UK tax rules, up to 25% for example, of the value of a pension may be taken in the form of a tax free lump sum.)
