Lump sum

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Revision as of 22:01, 14 November 2016 by imported>Doug Williamson (Expand.)
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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.

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