Difference between revisions of "Commutation"

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''Pensions''.  
 
''Pensions''.  
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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 ==
 
* [[Lump sum]]
 
* [[Lump sum]]
 
 

Revision as of 06:27, 3 August 2013

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.)

See also