Difference between revisions of "Lump sum"

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''Pensions.''  
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1. ''Pensions.''  
  
 
The rules of many occupational pension schemes permit an element of pension entitlement to be commuted to a lump sum on retirement.   
 
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.
 
These payments may not be liable to tax.
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2.
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More broadly, any single larger payment in exchange for - or as an alternative to - a series of smaller periodic payments.
  
  
 
== See also ==
 
== See also ==
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* [[Annuity]]
 
* [[Commutation]]
 
* [[Commutation]]

Latest revision as of 22:01, 14 November 2016

1. Pensions.

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.


2.

More broadly, any single larger payment in exchange for - or as an alternative to - a series of smaller periodic payments.


See also