Commutation: Difference between revisions
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Revision as of 14:19, 23 October 2012
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