Lump sum and Luxury good: Difference between pages

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''Pensions.''  
''Economics''. 
 
A good with an income elasticity of demand greater than one.
The rules of many occupational pension schemes permit an element of pension entitlement to be commuted to a lump sum on retirement. 
 
These payments may not be liable to tax.


== See also ==
* [[Necessity]]


== See also ==
* [[Commutation]]

Revision as of 14:20, 23 October 2012

Economics. A good with an income elasticity of demand greater than one.

See also


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