Lump sum

From ACT Wiki
Revision as of 22:01, 14 November 2016 by Doug Williamson (Talk | contribs) (Expand.)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

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