lump sum

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lump sum

Medspeak-UK
A one-off payout that one receives upon retirement with the NHS, which is equivalent to 3 times one’s annual pension.

Medspeak-US
A one-time payment—e.g., from the 401(k) plan made to a worker’s beneficiary in the event of death.
References in periodicals archive ?
Where the person entitled to drawdown dies then it will be possible for another beneficiary to continue in drawdown or for a lump sum to be paid.
But, after a small period of confusion, it clarified the lump sum death benefits that would come under the rules: ?
In a paper, "The Illusion of Wealth and Its Reversal," researchers Daniel Goldstein, Hal Hershfield and Shlomo Benartzi attempt to answer the question, "Why do people more often choose the lump sum option instead of the annuity?
Richard says, if you decide to take some or all of your pension funds as lump sums, either now or after April 2015, depending on your tax situation, it is important that you don't lose sight of the potential tax bill.
Research from Prudential found 10% who took a lump sum say they regret the decision or hadn't fully understood the impact it would have.
But research carried out by the Association of Investment Companies shows that, while people who followed this investment strategy would be better off in the short term, over a period of at least five years, lump sum investors would get higher returns.
Veterans tempted by lump sums would be giving up a lot of their benefit and would face the possibility of not being able to reopen their claim, should their disabilities worsen, Violante noted.
Unfortunately, this withdrawal of tax-free lump sums and continuing to make contributions is now a contentious area, under new rules brought in recently with A-Day.
Should they take the money as a lump sum or spread it out in a series of payments over a certain period of time, called a structured settlement?
a leading global relocation and moving services provider, has launched its Lump Sum Xpress portal.
Liberal Democrat shadow work and pensions secretary Steve Webb said people should be able to draw tax-free lump sums from their pensions to help them clear mortgage arrears or make a large purchase, such as a car.
Another concern is that some veterans' might not use their lump sums wisely, which could jeopardize their basic financial welfare," said Wilson.